Bagnall v. Suburbia Land Co.

ELLETT, Justice:

(concurring and dissenting) .

I agree with the main opinion in affirming the trial court’s decision to terminate the contract but cannot agree to reverse its ruling as to the United Paint & Colors Company.

When a person sells land to a corporation in process of being formed, the transaction is not complete until the deed is delivered to the corporation after formation. Our court has passed squarely upon this proposition.

In the case of Santaquin Mining Company v. High Roller Mining Company1 a deed was handed to one of the promoters of the corporation. Thereafter the High Roller…