Chicago M. & St. P. Ry. Co. v. Stewart
U.S. Circuit Court for the District of Minnesota
Bill in equity brought to obtain decree for the specific performance of a written agreement for the sale by defendant to complainant of certain land.
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Bill in equity brought to obtain decree for the specific performance of a written agreement for the sale by defendant to complainant of certain land. The agreement is dated April 23, 1879, and provides that the defendant— “ In consideration of one dollar to him in hand paid, the receipt of which is hereby acknowledged, and other considerations hereinafter named, has bargained and sold unto the said second party, and upon payment of the further consideration therefor as hereinafter provided doth hereby covenant and agree to convey to the said party of the second part, by a good and sufficient…
1Opinion of the CourtMcCrary, J.
We will first consider the question whether the powers of the arbitrator had ceased prior to the time when he undertook to act. The agreement is silent as to the time within which the award was to be made. In such a case the arbitrator must act within a reasonable time. What is a reasonable time must be determined in each case upon its own peculiar facts and circumstances. If the property to be sold is situated in or near a growing and prosperous city, and in a place where the value of real estate may be expected to increase rapidly, it would be fair to presume that the parties contemplated…
Also in this document: Concurrence.
2Cases cited23 opinions
- Greason v. . KeteltasNew York Court of Appeals · 1858
- Carnochan v. ChristieSupreme Court of the United States · 1826
- Tobey v. County of BristolU.S. Circuit Court for the District of Massachusetts · 1845
- Biddle v. RamseySupreme Court of Missouri · 1873
- Kelso v. KellyNew York Court of Common Pleas · 1860
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3Cited by4 opinions
- Danbury Rubber Co. v. Local 402, United Rubber, Cork, Linoleum & Plastic Workers of AmericaSupreme Court of Connecticut · 1958
- Shepard v. Springfield Fire & Marine InsuranceSupreme Court of Rhode Island · 1918
- Janine Angel v. Cindy MartenDistrict Court, C.D. California · 2023
- Johnson v. United States Probation & Pretrial ServicesDistrict Court, W.D. Washington · 2021