Mutual Loan Soc., Inc. v. Stowe
Alabama Court of Appeals
Appeal from Birmingham City Court. Heard before Hon. H. A. Sharpe. Action by C. R. Stowe against the Mutual Loan Society, Incorporated, in assumpsit. Judgment for plaintiff, and defendant appeals.
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Appeal from Birmingham City Court. Heard before Hon. H. A. Sharpe. Action by C. R. Stowe against the Mutual Loan Society, Incorporated, in assumpsit. Judgment for plaintiff, and defendant appeals. Count 1 claims for money had and received, in that defendant, acting by and through its agent and servant, one Kay, whose name is otherwise unknown, and who was then and there acting in the line and scope of his authority as such, obtained from plaintiff an order or subscription for 25 shares of the capital stock of the Mutual Loan Society, Incorporated, for which plaintiff paid defendant the sum of…
1Opinion of the CourtBrown, J.
(1, 2) When one party to a contract repudiates it, the injured party may elect to pursue one of several remedies. He may treat the contract as rescinded, and recover upon the quantum meruit, so far as he has performed; and, if in performing his part of the contract, he has paid money to the other party, he may maintain an action for money had and received; or he may keep the contract alive for the benefit of all parties, holding himself at all times ready and able to perform, and at the end of the time specified in the contract for performance maintain assumpsit as for a breach of the…
2Cases cited7 opinions
- Cobb v. MaloneSupreme Court of Alabama · 1890
- Southern Railway Co. v. KirschSupreme Court of Alabama · 1907
- Gabrielson v. Hague Box & Lumber Co.Washington Supreme Court · 1909
- Woodward Iron Co. v. HerndonSupreme Court of Alabama · 1900
- Sibley v. BarclayAlabama Court of Appeals · 1915
2 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Engel v. MahlenSupreme Court of Minnesota · 1922
- Paterson & Edey Lumber Co. v. Bank of MobileSupreme Court of Alabama · 1919
- Watts Const. Co. v. Cullman CountySupreme Court of Alabama · 1980
- Finch v. SpragueWashington Supreme Court · 1921
- Kennedy v. CollinsSupreme Court of Alabama · 1948
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