Porter v. Viets
U.S. Circuit Court for the Northern District of Illnois
On the third of April, 1857, the defendant, Yiets, entered into a contract in writing with the plaintiffs, by which he sold them fifteen thousand bushels of corn at forty-eight cents a bushel, deliverable free* on board, during the last half of June. The plaintiffs were to pay for the corn on delivery. Both parties executed the contract. The corn not being delivered, suit was brought on the contract.
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On the third of April, 1857, the defendant, Yiets, entered into a contract in writing with the plaintiffs, by which he sold them fifteen thousand bushels of corn at forty-eight cents a bushel, deliverable free* on board, during the last half of June. The plaintiffs were to pay for the corn on delivery. Both parties executed the contract. The corn not being delivered, suit was brought on the contract. At the time the corn was to have been delivered, it had risen to sixty-three cents a bushel, so that' the “difference” was over two thousand dollars. The defendant set up in defense that at the…
1Opinion of the Court
DRUMMOND, District Judge.
Whatever doubts may have formerly existed, it must now be considered the settled law, both in England and in this country, that the mere fact that a man may not have in his *1078possession, and has not attempted to acquire possession of, a particular commodity, which he undertakes to sell, deliverable at a future time, will not render illegal a contract made by him to sell and deliver the article. He is bound by his contract, nevertheless, and must deliver the property or be subject to the consequences of a non-delivery. It is an agreement to sell and deliver at a future…
2Cited by6 opinions
- Hawley v. BibbSupreme Court of Alabama · 1881
- Bryant v. Western Union Tel. Co.U.S. Circuit Court for the District of Kentucky · 1883
- Melchert v. American Union Telegraph Co.United States District Court · 1882
- Jackson v. FooteUnited States Circuit Court · 1882
- Earl v. HowellCity of New York Municipal Court · 1884
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