McDonald v. Van Etta

The following opinion was filed January 7, 1930:

Fowler, J.

The plaintiffs seem to base their right to recover primarily upon the proposition that they were not bound to pay for their stock until the stock was actually delivered to them. This is erroneous. Under the contract, although it was not expressly so declared, delivery of the stock and payment for it were to be contemporaneous acts. Delivery was no more condition precedent to obligation to pay than payment was condition precedent to obligation to deliver. The mere fact that defendants did not have the stock ready to deliver on July 1st…