143 So. 389 | La. | 1932
Lead Opinion
Stripped of unessential details, the case presented is this:
Plaintiff, acting for himself and four others, entered into an agreement to purchase, "if a good and merchantable title can be made," from one Clower, who promised to sell, a certain piece of real estate in Mississippi, *508 at a certain price and on certain terms, not pertinent here.
Three days later plaintiff sold to defendant his interest in the contract, taking in payment defendant's note for $2,500, payable "at the time of act of sale." Whereupon, in the words of the district judge, "Klein (the defendant) and his associates, coming to believe there was no profit in the transaction, abandoned it." And Klein now refuses to pay the note he gave plaintiff, alleging as one reason that the suit is premature since the act of sale has never been passed.
In some jurisdictions the rule seems to be the vendor must tender to the purchaser (if the contract so provides) an unobjectionable abstract of title, and, failing in this, the purchaser may recede from the contract, even though the vendor's title be in fact unobjectionable. The evidence in this case does not, however, show that this is the law in Mississippi; but, even if it were, that would avail defendant nothing. What the defendant bought from plaintiff, and what he had a right to expect, was the right and privilege to acquire, by good and merchantable title, a one-fifth interest in the Mississippi property; and that is what was surrendered by plaintiff and received by him; since the title was in fact good and merchantable. And if, having received such right and privilege, he chose for some reason satisfactory to himself not to take advantage of his privilege and exercise the right thus received, it was his concern alone and not that of plaintiff, and he cannot now complain when called upon to pay the price of the right and privilege which he has bought of plaintiff and which plaintiff has surrendered to him.
Addendum
Leopold Klein, the defendant and appellant, died pending the appeal herein. His widow and testamentary executrix was duly made a party to the proceeding, and Abe Aronson, plaintiff and appellee, asks that our decree herein amending and affirming the judgment of the district court be amended by substituting Mrs. Klein, in her representative capacity, for the judgment debtor. We see no objection to granting his request.
It is therefore ordered that the decree herein be amended by substituting Mrs. Yetta Potter Klein, testamentary executrix of Leopold Klein, for Leopold Klein, the judgment debtor.
With the decree thus amended, the application for a rehearing is refused.