Price v. Ridler

373 S.W.2d 59, 1963 Mo. LEXIS 612
CourtSupreme Court of Missouri
DecidedDecember 9, 1963
Docket50110
StatusPublished
Cited by9 cases

This text of 373 S.W.2d 59 (Price v. Ridler) is published on Counsel Stack Legal Research, covering Supreme Court of Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Price v. Ridler, 373 S.W.2d 59, 1963 Mo. LEXIS 612 (Mo. 1963).

Opinion

HOUSER, Commissioner.

Action in equity by the purchaser for specific performance of a contract for the sale of real estate. The trial court decreed specific performance and the defendants (sellers and subsequent purchasers from the sellers) have appealed. Title to real estate is involved within the meaning of Art. V, § 3, Constitution of Missouri, V.A.M.S. Cossairt v. Reich, Mo.Sup., 370 S.W.2d 291.

Carl R. Ridler, Jr. acquired a 257-acre farm in Jefferson County in 1953. He testified he paid $16,500 for the farm, but admitted that the documentary stamps indicate a consideration of $15,000. On January 6, 1961 he and Mrs. Ridler gave Haag' Real Estate Company of St. Louis an exclusive listing contract at a price of $40,000' “or offer,” agreeing in consideration of the agent’s advertising and efforts to sell to pay a 10% commission on the price named “or such other price” as the sellers might accept, if a sale of the property be made “while in charge of” the agent. The Rid-lers reserved the right to terminate the-agency one year after January 6, 1961 on: one month’s notice in writing.

On July 8, 1961 Mr. Ridler wrote a letter to plaintiff, Homer V. Price, a real estate developer, stating that the farm was-for sale and that he thought Mr. Price would be interested in buying it since it was between Price’s farm and the main road. Mr. Price replied that he was not' acquainted with the farm or its location,, asked for clarification and expressed a desire to know the asking price. On July 16, 1961 Mr. Ridler wrote Mr. Price giving' him the location and stating that it was-“valued at $12,000” but he would “consider an offer below that amount, please feel free-to do so.”

Before this exchange of correspondence Mr. Price did not know the Ridlers and had never made any effort to buy the farm. Upon receipt of the second letter Mr. Price-went to Mr. Ridler’s home where they had' a preliminary discussion without reaching' any agreement, except that Mr. Ridler would come to Mr. Price’s office in Jefferson County. On July 22, 1961 Mr. Ridler appeared at Mr. Price’s office. The parties-proceeded to the farm, looked it over, and' had lunch together, during which negotiations progressed. In their negotiations the-parties were dealing at arm’s length. During the negotiations Mr. Price was informed of the fact that the Ridlers had listed the property with Haag and Mr. Price was shown a copy of the listing contract,, which had the figure $40,000 in it, but Mr. Price was informed that Mr. Haag had been notified to lower the price to $20,000 *61 in view of the fact that no offers at the higher figure had been received. The Ridlers suggested that Mr. Price go with them to Mr. Haag to buy the property but Mr. Price did not want to go to Mr. Haag with his deal, and said they would “just leave Mr. Haag out of it.” When liability for the payment of a commission to Mr. Haag was discussed Mr. Price suggested that he would wait until the listing contract expired before he would pay for the land in full; that if he bought it he would do so with the understanding that he would buy it directly from the Ridlers after January 1st, “therefore [the Ridlers] would not have to pay Mr. Haag [the] commission for selling it, that he [Mr. Price] would handle it for [the Ridlers].” Mr. Ridler said he would like to sell the land “right away” and pay the commission. Mr. Price “was still set on waiting until the end of the year.” They finally agreed upon a sales price of $10,800, which they arrived at by deducting the amount of the commission from the $12,000 asking price ($12,000 less 10% or $1,200), acting on the assumption that by delaying the closing of the sale until the expiration of the listing contract the Ridlers would not have to pay the $1,200 commission to Mr. Haag. Mr. Price assured the Ridlers that they could “still sell” the property “up to the time of the contract,” but claimed they would have to sell it for $40,-000. (Later in the year Mr. Price told the Ridlers they could not sell the property; that it was his.) So on July 22, 1961 a sales contract was drawn and executed by Mr. Price and Mr. Ridler, and later signed by Mrs. Ridler, reciting the receipt by Mr. Price of $540 earnest money deposit as part of the cash consideration of $10,800 for the 257-acre farm, “which property is this day sold to said Homer V. Price.” The balance was to be paid as of closing date, December 22, 1961, later amended by mutual consent to December 31, 1961. A date in late December was chosen by Mr. Price as the closing date under the mistaken impression that the listing contract terminated between the 1st and 15th of December. The following proviso was typed in a blank space at the end of the printed form of the contract of July 22:

“Provided, however, that whereas the seller hereunder has previously entered into a contract with a certain realty company listing said property with such realty company for sale at a price of forty thousand dollars ($40,000.00), it is hereby understood and agreed that the existence of said listing contract is hereby acknowledged and it is further agreed that should said realty company arrange a sale on or before December 1, 1961, at the listed price of $40,000.00, commission provided under said listing contract shall be paid in full, date of closing hereunder being accelerated to conform to said sale and buyer hereunder performing as seller under said listing contract.”

This instrument was filed for record in the Recorder’s Office of Jefferson County on October 25, 1961. The $540 was paid by Mr. Price’s check, on which there was a notation “Earnest money and part purchase money on 257 acres at $10,800 as per contract.” The check was endorsed and cashed by Mr. and Mrs. Ridler.

During August, 1961 Haag Real Estate Company negotiated a contract for the sale of the farm to one Fred Simmons, but this sale was not consummated because of lack of financing.

Defendants’ Exhibit C is a written contract, dated November 15, 1961, for the sale of the farm by the Ridlers to Gertrude Sie-bel for $19,500, reciting that a down payment of $2,000 had been received by Haag Real Estate Company. Gertrude Siebel was an employee in the Haag office. A deed from the Ridlers to Gertrude Siebel dated December 1, 1961, filed for record in the recorder’s office December 22, 1961, was offered in evidence. The Ridlers did not receive any of the $2,000. They testified that it was to be “left in check form” until the litigation was settled.

In December 1961, prior to the closing date, plaintiff notified the Ridlers that he *62 was prepared to pay the balance due on the contract, and that the money would be on deposit at Jefferson County Abstract Company; that the papers would be ready for the Ridlers to execute and he would expect them to convey title to the farm to him at the closing on December 31, 1961. Plaintiff deposited the money at the abstract company but the Ridlers failed to consummate the transaction according to their contract and Mr. Price filed this suit on January 9, 1962, filing a notice of lis pendens on the same day. The property was thereafter conveyed by Gertrude Siebel to the other defendants named in this action.

Defendants seek a reversal of the decree •of specific performance on two grounds.

First, defendants contend that plaintiff acted in bad faith and did not come into the court of equity with clean hands.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Wallace v. Grasso
119 S.W.3d 567 (Missouri Court of Appeals, 2003)
Nelson v. Emmert
105 S.W.3d 563 (Missouri Court of Appeals, 2003)
Fenton v. Walter
612 S.W.2d 17 (Missouri Court of Appeals, 1981)
Osterberger v. Hites Construction Co.
599 S.W.2d 221 (Missouri Court of Appeals, 1980)
Fulton v. Fulton
528 S.W.2d 146 (Missouri Court of Appeals, 1975)
Hunt v. Easley
495 S.W.2d 703 (Missouri Court of Appeals, 1973)
Tinnon v. Tanksley
408 S.W.2d 98 (Supreme Court of Missouri, 1966)
Untitled Texas Attorney General Opinion
Texas Attorney General Reports, 1963

Cite This Page — Counsel Stack

Bluebook (online)
373 S.W.2d 59, 1963 Mo. LEXIS 612, Counsel Stack Legal Research, https://law.counselstack.com/opinion/price-v-ridler-mo-1963.