Noyes v. . Phillips

The parties agreed to exchange real estate upon certain specified terms, and each agreed to deliver a deed of his property at a time specified "or forfeit the sum of $500." Upon the first trial the court held this to be a provision for liquidated damages, and the plaintiff had a verdict for $500, which was set aside upon the application of the defendant, upon the ground that the decision was erroneous and that the sum should be deemed a penalty.

The case was retried upon this theory, and resulted in a verdict for the plaintiff of $1,000, against his request and exception that it should be…