Irwin v. Bird

The transaction in this case was one under which the defendant agreed to purchase property, owned by the plaintiff, at a foreclosure sale, and make a reconveyance to plaintiff, within a reasonable time, upon payment of five per cent bonus *711on the amount advanced by him, plus six per cent on such moneys. The plaintiff has demanded such a reconveyance, but the defendant has refused to carry out the agreement. The agreement is admitted by the defendant, except as to some of its terms.

This is not an agreement for the sale of land under the Statute of Frauds (Real Prop. Law, § 259), but is a trust…