Gerstell v. Shirk
Court of Appeals for the Seventh Circuit
Appeal from the District Court of the United States for the District of. Indiana; Albert B. Anderson, Judge. Suit in equity by Arnold F. Gerstell and the Alpha Portland Cement Company against Elbert Walker Shirk. Decree for defendant, and complainants appeal. In December, 1911, appellants entered into a written contract for the purchase of certain property from appellee.
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Appeal from the District Court of the United States for the District of. Indiana; Albert B. Anderson, Judge. Suit in equity by Arnold F. Gerstell and the Alpha Portland Cement Company against Elbert Walker Shirk. Decree for defendant, and complainants appeal. In December, 1911, appellants entered into a written contract for the purchase of certain property from appellee. In outline the contract was this: In consideration of $450,000, of which $25,000 was paid when the contract was signed and the balance to be due on delivery of the property and sufficient conveyances, appellee agreed to sell…
1Opinion of the CourtBaker, Circuit Judge
(after stating the facts as above). [ 1 ] If a lien exists in this case, the fact, if such it be, that appellants might ultimately collect the money confessedly due them from appellee by judg* *225ment and execution at law does not militate against this equitable proceeding. Nor does the unmerchantability of appellee’s title bar the way. Mere incumbrances surely do not. One of the objections set forth in the bill is a ground of escheat to the state. But the question is undetermined, and appellee might defeat the claim, if asserted. Appellants, entitled to a merchantable title, are not compelled…
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