Fishback v. G. W. Van Dusen & Co.
Supreme Court of Minnesota
One John M. Cole, a miller, of Rochester in this state, having died intestate, the plaintiffs were appointed his administrators. The defendants G-. W. Van Dusen & Co., (a corporation,) Cornelius Finn, the First National Bank of Winona, and the Second National Bank of Winona alleged claims to the wheat that was in Cole’s mill at the time of Ms death.
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One John M. Cole, a miller, of Rochester in this state, having died intestate, the plaintiffs were appointed his administrators. The defendants G-. W. Van Dusen & Co., (a corporation,) Cornelius Finn, the First National Bank of Winona, and the Second National Bank of Winona alleged claims to the wheat that was in Cole’s mill at the time of Ms death. These claims were disputed by the administrators, and by agreement between the parties the wheat was sold and the proceeds held by the administrator as a separate fund, subject to all claims of defendants as if no sale had been made. The…
1Opinion of the CourtMitchell, J.
When nothing is said in a contract for the sale of goods as to the time of payment, the law presumes that the sale is for cash. Upon a sale for cash, payment and delivery are concurrent and mutually-dependent acts. Neither party is bound to perform without contemporaneous performance by the other. Where payment of the purchase-money, or giving security for its payment, and the delivery of the goods, are expressly or impliedly agréed to be simultaneous, and the payment or security is omitted, evaded, or refused by the purchaser upon getting possession of the goods, the seller may immediately…
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