Charleston Fruit Co. v. Bond
Supreme Court of Georgia
• The plaintiffs are dealers in tropical fruits in Charleston, and the defendant deals in the same product in Savannah, and the parties entered into a contract for the sale of some bananas, not less than two hundred and not more than five hundred bananas, and from twenty-five hundred to five thousand cocoanuts.
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• The plaintiffs are dealers in tropical fruits in Charleston, and the defendant deals in the same product in Savannah, and the parties entered into a contract for the sale of some bananas, not less than two hundred and not more than five hundred bananas, and from twenty-five hundred to five thousand cocoanuts. The contract was entered into between the parties in which the plaintiffs agreed not to sell any bananas or cocoanuts during the existence of this contract in Savannah, and for the faithful performance of this contract they bound themselves to each other in the penal sum of $1,000. The…
1Opinion of the CourtSpeer, J.
The plaintiffs having committed a breach of their contract, their right to recover depends on whether the sum mentioned is to be held a penalty or as liquidated damages. An English judge has said, after an examination of this very question: “ The only thing I am certain about is that there is a conflict of opinion.”^ This much, however,, is clearly settled : the question whether a sum mentioned is a penalty or liquidated damages is one of construction looking to the real nature and substance of the agreement. The words “ liquidated damages” are not conclusive; nor where it is expressly…
2Cases cited2 opinions
- Swift v. CrowSupreme Court of Georgia · 1855
- Taylor v. The MarcellaU.S. Circuit Court for the District of Louisiana · 1873