Weil v. Jones
California Supreme Court
Appeal from the District Court of the Seventeenth Judicial District, Los Angeles County. The action was brought to enforce the terms of a contract for the purchase of land, made by the defendant Jones, with the plaintiff.
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Appeal from the District Court of the Seventeenth Judicial District, Los Angeles County. The action was brought to enforce the terms of a contract for the purchase of land, made by the defendant Jones, with the plaintiff. The contract was dated February 17th, 1875, and it provided for the payment of the purchase-price in installments—thirty thousand dollars down, seventeen thousand five hundred dollars in three years, seventeen thousand five hundred dollars in two years, and five thousand dollars in one year, with interest on deferred payments at the rate of ten per cent.—and that, in case…
1Opinion of the Court
By the Court':
The decision of this case depends upon the construction of a portion of one of the agreements annexed to the complaint, which reads as follows :
“ If default shall be made in any of the above payments * * * for the space of ninety days after the same shall become due, then it shall be lawful for the party of the first part * * * at his option and discretion, at once to rescind this agreement to convey, and to reenter upon and repossess said premises, * * and in such case all payments theretofore made shall be retained by the party of the first part as compensation and liquidated…
2Cited by3 opinions
- Cruse v. ClawsonMontana Supreme Court · 1960
- Clark v. American Developing & Mining Co.Montana Supreme Court · 1903
- Gray v. Maier & Zobelein BreweryCalifornia Court of Appeal · 1906