Reizen v. Larkin Lumber Co.

This is an action by a vendee to recover a deposit on a contract for the purchase of real property. The closing date fell on October 12,1926. That was a holiday, and there was an adjournment in writing to November thirtieth of that year. The stipulation adjourning the closing date, when signed by the vendee’s attorney, contained the clause, “ and it is further agreed that time shall be of the essence.” When the stipulation came to the vendor’s attorney to sign, he struck out that clause and signed it. The closing date and time came, and the vendor let his property remain with mortgage and tax…