Thе purpose of the original bill, filed on 21st October, 1881, is the specific performance of a contract, made and entered into on the first day of January, 1867, by which the defendant in writing bound himself, and covenanted that he would convey to the ancestor of the complainants five hundred acres of a larger tract of land, when he could ascertain the numbers thereof. The defendant remained in the open, notorious, continuous possession of the entire traсt,, taking the rents and profits, claiming title, and exercising acts of ownership. The ancestor of the complainants died in 1879, or 1880, not having during his life claimed the performance of the contract, or sought by legal remedies a recovеry of damages for a breach of its covenant or condition. Assuming that the duty of ascertaining the numbers of the lands is devolved on the defendant, and the further duty of giving notice to the vendee of the fact that he had ascertained them, and was ready to convey, he was bound to the performance of the duty in a reasonable time; he could not dеlay or procrastinate the day of performance indefinitely, at his mere will; nor could the vendee, by negleсt to demand performance, keep alive the covenant, as a stipulation to be performed at his mеre option. The rule of law is, that when a contract does not specify a particular time, or appоint the happening of a particular event, for
In Garnett v. Yoe,
A vendee, holding a bond or covenant for the conveyance of the title to lands at a future day, may elect to proceed at law for the recovery of damages, or he may resort to a court of equity for specific performance ; the remedy he will eleсt lies in his own discretion.—Haynes v. Farley,
There is no fact or circumstance which will withdraw this case from the operation of the statute. The concession may be made to the complainants (though there would be in view of the evidence much of difficulty in supporting it), thаt the bond to their ancestor is valid and founded on a valuable consideration. The stubborn fact remains, that for more than fifteen years after the execution of the bond, for more than thirteen of which the ancestor had a plain, unembarrassed right of action, or of suit in equity, the vendor remained in open, notorious, continuous possession, taking the rents and profits, asserting title in himself exclusively. We concur in the opinion of the chancellor, that the statute of limitations is a bar to the suit.
Affirmed.
