Missouri Land Co. v. Baylor

71 Mo. App. 94, 1897 Mo. App. LEXIS 433
Missouri Court of Appeals·Decided May 4, 1897·Published·Cited by 1 cases

Opinion

Bond, J.

The amended petition alleges that plaintiff sold defendant, L. A. Chapman, eighty acres of land, for the price of $400, and seven per cent interest thereon; that $50 was paid in cash, and the remainder [97] to be paid in five equal installments, falling due respectively on April 1, 1892, and on each of the next four years thereafter. The petition then alleges, “that no payment has been made on account of the said installments, and by the terms of said contract all of the same have fallen due, and with ten per cent interest thereon per annum, from the date of their maturity respectively, and are now due and owing from defendants to plaintiff as purchase money for said real estate. That by the terms of said contract, no assignment thereof or of the premises aforesaid, or any part thereof, should be valid unless made with the consent of plaintiff, and such assignment be indorsed thereon or permanently attached to said contract and be countersigned by the agent of plaintiff. That on the fifth day of October, 1893, said defendant L. A. Chapman, by assignment in writing under his hand and seal and duly acknowledged, indorsed on said contract, assigned said contract and premises to defendant D. L. Baylor for value received, by the terms of which assignment said D. L. Baylor, for value received, did guarantee the payment of the purchase money then due or to become due on said tract of land, both principal and interest, which said assignment was countersigned by the agent of plaintiff, with the express understanding and agreement in writing, that in consenting to recognize said assignment the plaintiff did not exempt the original purchaser from any of his ..liabilities under said contract.

“On the eleventh day of December, 1893, said defendant, D. L. Baylor, by his writing under his hand and seal, duly acknowledged and permanently attached to said contract for value received, assigned said contract and premises to defendant, Pease Piano Company, by the terms of which assignment the said Pease Piano Company in writing, for value received, did guarantee [98] the payment of the purchase money then due and to become due on said contract and on said tract of land, both principal and interest, which said agreement was countersigned by George A. Purdy, the agent of plaintiff, with the express understanding and agreement in writing, that in consenting to recognize said assignment plaintiff did not exempt the original purchaser from any of his liabilities under the said contract. Wherefore, plaintiff prays judgment against all of said defendants for said overdue and unpaid purchase money, with interest as aforesaid and costs; and that the same be decreed a first lien and charge on all the right, title, and interest of defendants in said property and real estate, and that all the right, title, and interest of the said defendants therein be sold to satisfy said judgment; and that if the proceeds of sale thereof^be insufficient, the remainder of the judgment be levied on other property of the defendants, or that plaintiff, at its election, may have a general execution against defendants for said indebtedness and all other and proper relief.”

A separate answer to this petition was filed by the Pease Piano Company, one of defendants, which denied all facts not admitted, and then averred its incorporation as a piano manufacturer, and that as such had no power to contract for the purchase of land, nor to bind itself for the payment of money on such purchases ; that it never ratified the act of its agent in the matters alleged in the petition; that the contract therein mentioned had been surrendered. There was a decree for plaintiff against all of the defendants for $518.60, charging the same as a lien upon their interest in the land. The ease is here by writ of error. The first error assigned is that the petition fails to allege a tender by plaintiff of a deed to the land whose purchase money is sought to be recovered.

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Missouri Land Co. v. Baylor, 71 Mo. App. 94, 1897 Mo. App. LEXIS 433 (Mo. Ct. App. 1897).

71 Mo. App. 94 (Missouri Land Co. v. Baylor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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