Hauck Food Products Corp. v. E. A. Stevenson & Co.

Hinman, J. (concurring):

I agree with the learned court below that the contract was not completed at the time, but I disagree as to the holding that the term “ close the contract ” meant the right to refuse payment for the goods, title to which had passed to the buyer before insolvency. (See 118 Misc. Rep. 31.)

Where one party sells another goods for a certain price, the contract is not completed on the delivery of the goods. Payment of the price must be made before it is completed. The fact that it is not completed in such a case gives a cause of action for the price. Mutuality is the essence…