Case v. Wolcott

33 Ind. 5
CourtIndiana Supreme Court
DecidedJuly 1, 1870
StatusPublished
Cited by4 cases

This text of 33 Ind. 5 (Case v. Wolcott) is published on Counsel Stack Legal Research, covering Indiana Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Case v. Wolcott, 33 Ind. 5 (Ind. 1870).

Opinion

Gregory, J.

W oleo it sued Case upon the following written contract, executed by them:

“ This agreement,made this 20th day of August, 1856,. between Albert S-. Case, of the city of New York, party of the first part, and Anson "Wolcott, of the same place, party of the second part, witnesseth, that the said party of the first part has sold to the party of the- second part all those certain tracts or parcels of land situate in the county of Benton, State of Indiana, which Henry L. Ellsworth has-heretofore located in the said county of Benton, for the-party of the first part, amounting to five thousand and! ninety-six and eighty-one one hundredths acres, a schedule of which lands is hereto annexed, and said party of the-first part agrees to make- good and sufficient titles, and free from all incumbrances whatsoever, to said lands, at such times, and in such amounts, and to such parties, as the party of the second part shall request. Provided, that before such titles are made, improvements -shall have been made upon the lands embraced therein, in value equaL to> [7]*7two and a half dollars per acre upon the whole amount of land contained in any such title or conveyance, or that the sum of two dollars and a half per acre shall have been paid or safely secured payable in one year, with annual interest at the rate of seven per cent, per annum, to- the party of the first part, or that the amounts so paid or- secured, together with the amounts of improvements so made shall together be equal to two and a half dollars per acre. In all Cases of conveyances, unless the lands are paid for or otherwise satisfactorily secured, bonds and mortgages for the purchase-money, or any balances that may remain, shall be executed and delivered to said Case at the time of the delivery of the deed by him, which mortgages shall cover all improvements on said lands so conveyed.
“ The said party of the second part hereby agrees to pay the party of the first part five dollars per acre for all of said lands, together with annual interest at the rate of seven per cent, per annum from the first day of September^ 1856, said interest to be paid annually, on the second day of January in each year, in the city of New York, and to pay the principal sum in six equal annual' payments, the first payment to become due and payable on or before the first day of January, 1858, and similar payments also on or before the first day of each succeeding January until the whole sum is paid.
“ The said party of the second part also agrees to pay all taxes upon said lands hereafter, as they may become due and payable. It is agreed and expressly understood between the parties hereto, that tlie party of the second part shall sell said lands with all convenient dispatch, but not for less than five dollars per acre; that all proceeds of sale shall be taken by the party of the first part as payment upon this contract. Such proceeds are Intended to mean and do mean cash and cash securities, taken upon sale, bonds and mortgages upon the lands sold, and contracts and agreements to purchase lands where no conveyance has been made; but in all cases when improvements, securities, or [8]*8payments have been made to the'amount of two and a half dollars, as hereinbefore stated.
“No such bonds and mortgages or contracts shall by their terms extend the time of payment longer than herein-before stated, to wit, six annual payments. "Whenever the party of the first part shall have received in cash, securities, bonds and mortgages or contracts of the lands sold, the whole amount for which the lands are hereby sold, he shall convey to the party of the second part, his heirs or assigns, by deed of warranty, and free from all incumbrances, all of said lands which shall then remain unsold. A non-compliance with the terms of this contract, or any of them, by the party of the second part, shall work a forfeiture of all right under this contract, at the option of the party of the first part; but upon thirty days previous notice to the party of the second part, his heirs or assigns, demanding a fulfilment and specifying such feature or features as it is deemed have not been complied with.”

After alleging the execution of this agreement, making the same a part of his complaint, the appellee made the following averments: “The plaintiff avers that on the 1st day of January, 1857, he paid to the said defendant the sum of six hundred and thirty-one dollars and fifty-four cents, as and for the interest then due on said agreement; that immediately after the execution of said agreement he entered upon the performance of the same, and in so performing and improving the land described in the schedule annexed thereto, by breaking and plowing the same, and building houses thereon (said lands being at the time wild and uncultivated), and in offering them for sale, and procuring settlers thereon, he expended, after the execution of the agreement, and before the 1st day of January, 1858, the sum of five thousand dollars; that after the execution of said agreement and before the first day of January, 1858, he contracted to sell to one John Fleming two hundred acres of the lands referred to in the agreement, at five dollars an acre, and to one George "W. Haggard four hundred [9]*9and twenty-two acres, at fifteen dollars an acre, all of which lands had been improved by him before the sales thereof, in value exceeding two dollars and fifty cents an acre; that the purchase-money for the lands sold to Fleming was duly secured by bond and mortgage, and for the lands sold to Haggard by written contract, signed by Haggard; which bond and mortgage and contract were afterward, and before the first day of January, 1858, duly transferred to the defendant, and by him duly received and accepted as so much cash paid by the plaintiff on the agreement sued on, and receipted for by the defendant accordingly, which fully paid and more than paid ancl satisfied all that was due from the appellee on the agreement sued on, on the 1st day of January, 1858; that he (the plaintiff) had performed all the conditions specified in the agreement sued on, on his part to be performed, but that, nevertheless, the defendant did, about the first day of March, 1858, repudiate the agreement sued on, and refuse to be bound thereby, and has ever since refused to be bound thereby; that with a view to carry out the alleged fraud more effectually, the defendant, on or about the first day of March, 1858, falsely circulated and published in the community in which the lands are located, that the plaintiff had forfeited all rights under the agreement sued on, by failing to comply with his part of the same, thereby hindering and absolutely preventing the plaintiff from proceeding with the execution of his contract; that at the time the defendant so refused to proceed with the execution of the contract sued on, the lands referred to in the schedule annexed thereto had increased in value over and above the contract price about twenty thous- and dollars.”

The defendant answered in six paragraphs:

1. A general denial.

2. A paragraph denying that the Fleming mortgage and the Haggard contract were received as payment upon the-contract between plaintiff and defendant, and averring that [10]

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Cite This Page — Counsel Stack

Bluebook (online)
33 Ind. 5, Counsel Stack Legal Research, https://law.counselstack.com/opinion/case-v-wolcott-ind-1870.