Blair v. Shaeffer

33 F. 218
CourtU.S. Circuit Court for the District of Western Missouri
DecidedJuly 1, 1887
StatusPublished
Cited by3 cases

This text of 33 F. 218 (Blair v. Shaeffer) is published on Counsel Stack Legal Research, covering U.S. Circuit Court for the District of Western Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Blair v. Shaeffer, 33 F. 218 (circtwdmo 1887).

Opinion

Brewer, J.

This bill tvas filed to compel the execution of a deed, and for a decree adjudging that defendant has no interest in the land, and enjoining him from interfering therein. The facts are these: On February 4, 1884, the parties, complainant and defendant, entered into this contract:

“ Whereas, by virtue of a certain contract made by Samuel 0. Shaeffer, of Lancaster, Ohio, with P. Cardenas, of New York city, for the purchase of thirty-six 47-100 (86 47-100) acres of land in Jackson county, Missouri, and known as lot 7, of the partition of the estate of Thomas West, deceased, by the circuit court of Jackson county, Missouri, on October 18, 1880, as per contract dated the first day of November, 1883, for which said land the said Shaeffer was to pay the said Cardenas the sum of twenty-one thousand eight hundred and eighty-two ($21,882) dollars, on or before the eighth day of February, 1884. Now it is agreed, as said contract is made by said Shaeffer for said land, and for prudential purposes, that the same shall be conveyed by warranty deed to said Shaeffer, and that John I. Blair, of Blairstown, N. J., has paid for the same by giving to said Shaeffer a chock on the National Park Bank of New York City, for the sum of twenty-one thousand eight hundred and eighty-two ($21,882) dollars, signed by the president of the Bel vid ere National Bank of New Jersey, to enable him to pay for the said land.
“And whereas, by another agreement made by said Shaeffer with Marian West, of Jackson county, Missouri, dated July 24,1882, and October 21, 1882, whereby said Marian West sold the interests of Frank West, Thomas West, and Joseph C. West, minor heirs of Thomas West, deceased, and known as lots live, (5,) six, (6,) and eight (8) of the partition of the estate of Thomas West, deceased, by the circuit court of Jackson county, Missouri, on October 18, 1880, for which said land, by said contract, said Shaeffer was to pay the sum of forty-four thousand five hundred and fifty-nine (44,559) dollars, ten thousand to be paid in cash upon the delivery of the deed, and the remainder, ($84,559,) to-wit, ($17,279 50-100.) on or before the eighth day of February, 1885, and ($17,279 50-100) on or before the first day of February, 1886, bearing 8 per cent, interest from February 1, 1883, and secured by a mortgage on said premises: the said John 1. Blair has given to said Shaeffer a check, signed by tile president of the Belvidere National Bank of New Jersey on the National Park Bank of New York City, for ten thousand (10,000) dollars, to enable said Shaeffer to pay that much on account of said lands, and for prudential reasons to obtain a deed for the same in his own name. The said Blair is to pay the balance of the purchase money at maturity, amounting to $34,559, given by said Shaeffer, and secured by mortgage. This makes at this time the cash payments on the above two contracts, ($21,882 and $10,-000, making $31,882,) which is to bear eight per cent, interest until paid out of the sales of the lands as aforesaid. The interest to bo added to the principal yearly, and bear eight per cent, interest until paid. Within four months after said Shaeffer shall have obtained the title to said lands, or sooner if desired by said Blair, said Shaeffer to make a warranty deed to said Blair for [220]*220said lands. Now, it is further agreed, for the mutual interest of said Blair and Shaeffer, it may be deemed advisable to obtain certain releases for pretended claims made by the Anthony heirs to said property, the sum for said purpose to be mutually agreed upon, which sum said Blair agrees to furnish to said Shaeffer upon telegraph notice, to aid him in securing said releases, and Shaeffer afterwards to deed by release deed said lands to said Blair, said money to bear the same rate of interest and governed by the same conditions, as herinbefore stipulated, the same to be indorsed on this contract or other written evidence given that said Blair paid the money.
“It is deemed for the mutual benefit of said Blair and Shaeffer that Shaeffer purchase the 69 acres of land from John S. West adjoining the above-described lands, at a price not to exceed $400 per acre, amounting to twenty-seven thousand six hundred ($27,600) dollars, and to obtain a warranty deed therefor.
“Said John I. Blair has given said Shaeffer the president’s check of the Belvidere National Bank of New Jersey, on the National Park Bank of New York City, for fourteen thousand and six hundred dollars, ($14,600,) as part-payment for said sixty-nine acres of land. If said property cannot be purchased for twenty-seven thousand six hundred ($27,600) dollars, then said ($14,600) check to be returned to said Blair unused. Said Blair agrees to assume and pay ($13,000) mortgages on said property, which said Shaeffer will give to said West, payable in one or two years, and bearing eight per cent, interest, in case said purchase can be made. Said Shaeffer, within four-months after obtaining' title to said land, to deed same to said Blair, all the money paid or furnished, and assumed to pay for said land, by said Blair, to bear eight per cent, interest, and added to the principal each year until paid. All money necessary to stake off lots, grade streets, advertising, office furniture, fixtures, and rent, and stationery, taxes, and such other expenses as may become necessary for the improvement and sale of said property, or may be mutually agreed upon from time to time by said Blair and Shaeffer, shall he furnished by said Blair. Said Shaeffer is to receive and deduct 5 per cent, commission upon gross sales of all lots sold at the agreed price or over, made by said Blair and Shaeffer, and the remainder to be deposited, in some bank in Kansas City that may be mutually agreed upon, to the credit of John 1. Blair, until all the money he has paid or advanced, with interest as aforesaid, shall have been returned to him. At the end of each month said Shaeffer to report the amount to credit of said Blair, the same to be subject to said Blair’s draft on account of money advanced or paid for the property and otherwise as aforesaid. All contracts for the sales of the said lands or lots to be made in triplicate, and approved by said John I. Biair, or some one appointed by him, on the back of said contract. The word ‘ approved ’ or < rejected ’ to be written or signed by said John I. Blair, as aforesaid; one copy of said contract to be retained by said Shaeffer, and one by the purchaser. It shall be specified on the face of said contracts that said contracts shall not be valid unless approved as specified, and all contracts to be made payable to said John I. Blair.
“ When said Blair shall have been paid in cash for all the money advanced and furnished by him for the purchase of said land, and other moneys, and the interest thereon as specified, then the remainder of the property shall belong, sixty (60) per cent, to said Blair, and forty (40) per cent, to said Shaeffer; and then said Shaeffer shall not be required to deposit in the aforesaid bank, as aforesaid specified, to the credit of said Blair, more than sixty per cent, of the net proceeds of sales of said lands or lots.
“If it is at that time desirable to divide said lots or lands between said Blair and Shaeffer, said Blair to take sixty per cent., and said Blair to convey the title to forty per cent, of said property or lots by warranty deeds to said Shaeffer, or said Shaeffer to sell the lots or lands as aforesaid, and divide the net proceeds of sales, sixty per cent, to said Blair, and forty per cent, to [221]*221said ShaefEer.

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Bluebook (online)
33 F. 218, Counsel Stack Legal Research, https://law.counselstack.com/opinion/blair-v-shaeffer-circtwdmo-1887.