Prairie Development Co. v. Leiberg

98 P. 616, 15 Idaho 379, 1908 Ida. LEXIS 119
CourtIdaho Supreme Court
DecidedNovember 14, 1908
StatusPublished
Cited by24 cases

This text of 98 P. 616 (Prairie Development Co. v. Leiberg) is published on Counsel Stack Legal Research, covering Idaho Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Prairie Development Co. v. Leiberg, 98 P. 616, 15 Idaho 379, 1908 Ida. LEXIS 119 (Idaho 1908).

Opinion

STEWART, J.

This is an action for the specific performance of the following contract:

“This contract, made and entered into this 26th day of December, A. D., one thousand nine hundred and five, by and between Mrs. Carrie E. Leiberg and John B. Leiberg of the first part, and J. Grier Long, ‘Trustee,’ of the second part, witnesseth as follows, to wit:
“I. The party of the first part, for their heirs, executors and administrators, agree to sell to the party of the second part, all those certain pieces or parcels of land situated in the County of Kootenai and State of Idaho known and described as follows to wit: All of section (17) seventeen. All of section (3) three and the southwest quarter of the northwest quarter and lots numbered one, two, three and four of Sec[383]*383tion (2) two; all of the above land is in township fifty-three north of range two west of Boise Meridian in Idaho; also a fraction containing about seven acres and lying to the north of and adjoining the above described lands and the water rights on Vesta Creek, Cat Creek and Barker Creek.
“II. The party of the second part, for their heirs, executors, administrators and assigns, agree to buy of the party of the first part said above described lands and to pay the party of the first part for the same the sum of ($41,000.00) forty-one thousand and no-100 dollars in the manner following to wit: Five hundred and no-100 dollars ón delivery of this contract and the remainder, forty thousand five hundred dollars, to be paid in four payments as follows, to wit: Nine thousand five hundred dollars on or before May 1st, 1906; eleven thousand dollars on or before May 1st, 1909; ten thousand dollars on or before May 1st, 1911; ten thousand dollars on or before May 1st, 1913; deferred payments to bear 6 per cent interest per annum, all payments to be made at the office of Traders National Bank, Spokane, with interest thereon at the rate of 6 per cent per annum from date until due, and thereafter on the whole sum remaining due or unpaid in each year interest at 6 per cent per annum until paid; interest all payable annually, and said party of the second part shall also pay and discharge all taxes and assessments imposed on said premises from and after the date hereof, whether ordinary, extraordinary or for revenue purposes, within three months from the first day on which the same become due and payable, including all taxes, for the year 1906 and all taxes thereafter.
“III. Forthwith; after the full payment of said purchase money, taxes and interest, as aforesaid, time being the essence of this contract, the party of the first part agrees to execute or cause to be executed to the party of the second part a good and sufficient warranty deed for said described premises, to be delivered on the surrender of this duplicate contract. It is further agreed and understood that the first party shall have the right and privilege of executing to the said second party a deed to said above described lands at any time [384]*384before the final payment shall have been made, and that the said seeond party shall then and there cause to be properly executed to said first party notes and mortgage for the unpaid balance of purchase money, the same to be secured by first mortgage on said premises.
“IV. It is expressly agreed that time is of the essence of this contract, and in case of default by the party of the second part, their heirs or assigns, in any of the conditions above stipulated to be performed by them, then and in that case this contract shall become void and the party of the second part shall have forfeited their rights hereunder and any payments that shall have been made shall become forfeited to the party of the first part, which said payments it is hereby specifically agreed shall in that case be deemed as damages hereby liquidated for the non-performance of this contract by said second party.
“V. Nothing herein shall be construed to entitle said second party to possession of said premises until the payment of the $9,500.00 above mentioned.
“In witness whereof, the parties have hereunto set their hands and affixed their seals the day and year first above Written.
“(Signed) JOHN B. LEIBERG. (Seal)
‘1 CARRIE E. LEIBERG. (Seal)
“J. GRIER LONG, Trustee.” (Seal)

After setting forth the contract and its assignment to plaintiff, the defendants allege the payment of $500 upon the execution and delivery of the contract, and that on May 1, 1906, the plaintiff paid to the defendants, and the defendants accepted, the sum of $6,000 as part payment of the installment of the purchase price, due on May 1, 1906; and on said date, by an instrument in writing, duly executed by said defendants, said defendants agreed to give the plaintiff until May 15, 1906, in which to pay the balance of said payment, to wit, the sum of $3,500. The complaint then alleges that an agreement was entered into between the plaintiff and defendants, by which the defendants agreed to call at the office of the plaintiff on May 15, 1906, at which time the said [385]*385deferred payment of $3,500 was to be made, and that the said defendants, upon said date, would further discuss with plaintiff the giving of a deed and the acceptance of a mortgage to secure the balance of the purchase price; that on said May 15, 1906, plaintiff was ready and willing and able to pay the said balance so due on said date, to wit, the sum of $3,500, and was ready, able and willing to execute and deliver, and offered to execute and deliver, to defendants the said promissory notes and a mortgage to secure the same; that the defendants failed to come to the office of plaintiff or execute the deed, or arrange with plaintiff for the execution of the mortgage and notes to secure the balance of the purchase price.

The answer put in issue all of the allegations of the complaint, except the execution and delivery of the written contract set forth in this opinion, its assignment, and the payment of the $500 at the time of its execution, and the payment of the $6,000 on May 1, and the extension of the time of the payment of $3,500 to May 15, 1906.

Upon the issues thus presented, the cause was tried to the court, findings of fact and conclusions of law were made, and a decree rendered in favor of the plaintiff. Among other things, the cburt found that at the time of the payment of the $6,000 on May 1,1906, the defendants executed in writing and indorsed on the back of said contract an extension of the time of payment of the balance due upon May 1st, in the following words, to wit:

“Spokane, May 1st, 1906.
“Received ($6,000) Six Thousand Dollars on the within contract, and we agree to wait until May 15, ’06, for the remainder of the payment ($3,500) Three Thousand Five Hundred Dollars, being the remainder on first payment.
(Signed) “JOHN B. LEIBERG-,
“CARRIE E. LEIBERG.”

—that it was agreed and understood at the time and delivery of said cheek and the signing of said extension that on May 15, 1906, the Leibergs were to come to the said office of the plaintiff and there receive the balance of the purchase price [386]

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Cite This Page — Counsel Stack

Bluebook (online)
98 P. 616, 15 Idaho 379, 1908 Ida. LEXIS 119, Counsel Stack Legal Research, https://law.counselstack.com/opinion/prairie-development-co-v-leiberg-idaho-1908.