5 Cal. 66 | Cal. | 1855
Lead Opinion
In this cause, the respondent having, in the summer or
A sheriff by our laws, in selling property under execution, is not bound to receive any bid, except for cash on the whole amount of the sale ; and having received a bid with but a portion of the purchase money paid at the time, he may disregard the bid, and offer the property again for sale, if the balance of the purchase money is not paid before the return day of the execution. A sheriff is not bound to demand the purchase money before setting aside the bid, but the delay of the purchaser until the return day of the execution to .pay the balance due, will be construed into a refusal on his part to pay the amount of his bid upon the property.
In this cause, the respondent delays until a portion of the property is sold to other parties, and delays until the expiration of nearly two years, before he manifests any intention to pay the balance and rely upon his bid for the property. He has by his own neglect lost all right which he might have had in the premises.
It would be a most flagrant violation of the principles of justice to allow a party thus long to sleep upon his rights, and when the property bid off has become valuable to bring forward his stale claim, to the injury of innocent parties in possession of the property.
The judgment below must be reversed, with costs.
Concurrence Opinion
I concur, upon the ground that a purchaser at sheriff’s sale, acquires no rights whatever against the sheriff for property sold, unless at the time of the sale he has paid down in cash, the whole of the purchase money.