167 Ind. 184 | Ind. | 1906
This action was brought by appellant to recover liquidated damages for the breach of a contract. A demurrer for want of facts was sustained to each paragraph of the complaint, and a judgment followed that appellant take nothing by his suit, and pay the costs.
*187 “New Ross, Indiana, October 15, 1904.
I hereby submit the following proposition: I will exchange my stock of dry goods, groceries, boots and shoes, fixtures, etc., owned by me and with which I am doing business in the Odd Eellows building at New Eoss, Indiana,—said stock to be free from liens of every kind and character, and to be invoiced at first cost price, said price to be obtained from bills for said goods from wholesale houses from which they were bought—for 120 acres of land, more or less, owned by Daniel Y. Howard of Dana, Indiana, and located about three miles west of Winamac, Pulaski county, Indiana, in sections seventeen and eighteen, township thirty north, of range two west, said land to be free from liens and encumbrances of every kind and character, except a mortgage of $2,000, and interest thereon from this date, and possession to be given on or before March 1, 1905, nothing reserved. I am to have all loose lumber, tiling, posts, etc., now on said farm, but am not to have any interest in any of the crops or rent of said farm for the year 1904. I am to pay for said farm $50 per acre in merchandise and fixtures.
When above mentioned stock of merchandise and fixtures has been invoiced at cost, I am to deduct therefrom the sum of $246, and the remainder is the amount that I am to receive for said stock.
I am to give possession as soon as stock of merchandise and fixtures has been invoiced and trade closed, which is to be as near October 20 as possible.
Either party to this agreement hereby agrees to forfeit to the other $500 as liquidated damages if he fails to carry out his part of said agreement.
Guy Adkins & Co.
I hereby accept the foregoing proposition.
Daniel Y. Howard.”
It follows that the objections urged to the complaint are not tenable. Judgment reversed, with an instruction to overrule the demurrer to .the complaint.