Halstead v. Missouri Slope Land & Investment Co.
North Dakota Supreme Court
From a judgment of the District Court, Golden Valley County. Hanley, J. Plaintiff appeals. Per Curiam Opinion. “The term ‘liquidated damages’ is used in reference to the breach of a contract or non-performance of duty as expressing a fixed sum which is agreed upon between the parties as the ascertained damage which one is to receive and the other pay because of default.” U. S. v. U. S. Fidelity etc.
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From a judgment of the District Court, Golden Valley County. Hanley, J. Plaintiff appeals. Per Curiam Opinion. “The term ‘liquidated damages’ is used in reference to the breach of a contract or non-performance of duty as expressing a fixed sum which is agreed upon between the parties as the ascertained damage which one is to receive and the other pay because of default.” U. S. v. U. S. Fidelity etc. Co. 151 Fed. 534, (14 C. J. 714). “The distinction between a penalty and a provision -for liquidated damages is that a penalty is in effect a security for performance, while a provision for…
1Per curiam
This is an action to recover on a written agreement in the form of a bond executed by the defendant, Missouri Slope Land & Investment Company,, as principals and the defendants, A. L. Martin and Mary J. McGillivray, as sureties. The written instrument upon which this action is brought was executed under the following circumstances :
About the year 1906 the defendant Missouri Slope Land *222& Investment Company, instituted an action against J. D. Halstead to quiet title to and recover possession of a quarter section of land situated in what is now Golden Valley county, in this state. Said Halstead…
2Cases cited3 opinions
- Kemp v. . Knickerbocker Ice Co.New York Court of Appeals · 1877
- Streeper v. WilliamsSupreme Court of Pennsylvania · 1865
- Missouri Slope Land & Investment Co. v. HasteadNorth Dakota Supreme Court · 1914
3Cited by3 opinions
- Baird v. FuerstNorth Dakota Supreme Court · 1931
- Battagler v. DicksonNorth Dakota Supreme Court · 1949
- Berry v. HeinzNorth Dakota Supreme Court · 1965