Lee, Wyly & Co. v. Silas Overstreet's Administrator
Supreme Court of Georgia
Liquidated damages. Penalty. Before Judge Sessions. Pierce Superior Court. September Term, 1869. In 1866, Lee, Wyly & Company and Overstreet made the following contract: Overstreet was to furnish them all crude turpentine, made on his farm during that year, at $5 00 for each barrel weighing, gross, two hundred and eighty pounds, delivered at Station Seven and one-half, Atlantic and Gulf Railroad, in good order ; they to give him a sight draft on Savannah upon such delivery…
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Liquidated damages. Penalty. Before Judge Sessions. Pierce Superior Court. September Term, 1869. In 1866, Lee, Wyly & Company and Overstreet made the following contract: Overstreet was to furnish them all crude turpentine, made on his farm during that year, at $5 00 for each barrel weighing, gross, two hundred and eighty pounds, delivered at Station Seven and one-half, Atlantic and Gulf Railroad, in good order ; they to give him a sight draft on Savannah upon such delivery of each car load of forty barrels. And they agreed that “either party failing to perform their part forfeits to the other…
1Opinion of the Court
McCay, Judge.
Our Code, section 2890, declares that “ penalties in bonds are not liquidated damages, and even if called such, if it appear unreasonable, and not so actually intended by the parties, the law will give only the actual damages. And in all cases, if the damages are capable of computation, and is not uncertain in its character, such stipulations will not be declared penalties.” The breach alleged here is a failure to take and pay for two lots of this turpentine. The damages can easily be ascertained. The difference between the price agreed upon and the worth of the article, at the…
2Cited by4 opinions
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- Heard v. Dooly CountySupreme Court of Georgia · 1897
- Walker v. BementIndiana Court of Appeals · 1911
- Mayor of Washington v. Potomac Engineering & Construction Co.Supreme Court of Georgia · 1909