Bleeker v. Graham
New York Court of Chancery
Bill of interpleader. The complainants were auctioneers; and had been employed by the defendant, John Graham, to sell two lots of ground by auction. The other defendant, John Scudder, became the purchaser at the sum of two thousand seven hundred dollars. He paid down, pursuant to the terms of sale, ten per cent, of the purchase money ; and the residue was to be forthcoming (at a specified time) on the delivery of the deed.
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Bill of interpleader. The complainants were auctioneers; and had been employed by the defendant, John Graham, to sell two lots of ground by auction. The other defendant, John Scudder, became the purchaser at the sum of two thousand seven hundred dollars. He paid down, pursuant to the terms of sale, ten per cent, of the purchase money ; and the residue was to be forthcoming (at a specified time) on the delivery of the deed. The complainants gave to Scudder a written receipt for the ten per cent., which was therein called a deposit; and in the body, of this receipt was inserted the following: “…
1Opinion of the Court
The Vice-Chancellor:
The first and only question to be disposed of, in this stage of the cause, seems to be this : whether the bill is necessary and properly filed ?
An auctioneer, in making a sale, is considered in law the agent of both vendor and purchaser; and hence it is that he becomes a mere depositary or stake-holder of that part of the purchase money which, by the conditions of sale, is required to be paid down. When the contract is completed, it is to be paid over as a part of the purchase money, If the contract falls through without any fault of the purchaser, he is entitled to a…
2Cited by4 opinions
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- Williams v. Deutscher VereinNew York Court of Common Pleas · 1891