Potter Realty Co. v. Derby
Oregon Supreme Court
From Marion: Percy R. Kelly, Judge. Department 1. Statement by Mr. Justice McBride. This is an action by the T. B. Potter Realty Company against F. N. Derby to recover certain installments claimed to be due upon a contract for the purchase and sale of certain real estate situated in Tillamook County, which contract is as follows: “This agreement, made the 27th day of May, 1909, between T. B. Potter Realty Company, a corporation, the party of the first part, and F. N. Derby,…
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From Marion: Percy R. Kelly, Judge. Department 1. Statement by Mr. Justice McBride. This is an action by the T. B. Potter Realty Company against F. N. Derby to recover certain installments claimed to be due upon a contract for the purchase and sale of certain real estate situated in Tillamook County, which contract is as follows: “This agreement, made the 27th day of May, 1909, between T. B. Potter Realty Company, a corporation, the party of the first part, and F. N. Derby, the party of the second part, witnesseth: That in consideration of the stipulations herein contained, and the payments…
1Opinion of the CourtJustice McBride
1. The agreement of plaintiff to spend $100,000 a year is a concurrent covenant, and was, no doubt, a large part of the consideration which induced defendant to enter into the agreement. Plaintiff cannot neglect to comply with this portion of its agreement and recover installments which are unpaid at the time the breach occurred.
2. The parties having agreed upon their own remedy for a breach of the contract, that remedy is exclusive. *572They have so agreed here hy stipulating that in the event of default in payment of any installment of the purchase price all payments theretofore made shall be…
2Cases cited2 opinions
- Maffet v. Oregon & Cal. RailroadOregon Supreme Court · 1905
- Morris v. GreenAppellate Division of the Supreme Court of the State of New York · 1901
3Cited by34 opinions
- Hryciuk v. RobinsonOregon Supreme Court · 1958
- Mitchell v. HughesOregon Supreme Court · 1916
- State v. HarveyOregon Supreme Court · 1926
- Kemmerer v. Title & Trust Co.Oregon Supreme Court · 1918
- State v. BoweNorth Dakota Supreme Court · 1928
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