Beck v. Chambers

Citations

• 18 N.M. 53
• 133 P. 972

Syllabus

<p>SYLLABUS (BY THE COU±.T.)</p> <p>1. A contract for the exchange of land provided “in the event that the party of the first part shall fail to comply with the terms thereof, within the time herein limited, the said second party may at his option declare this contract void, in which event all rights and liauklties.hereunder s^all cease and determine.” Held that the forfeiture of the contract was made optional with the second party, and if he did not see fit to exercise his option and declare the forfeiture, the contract continued in full force and effect.</p> <p>P. 60</p> <p>2. HELD: Further, that a declaration of the fact that the</p> <p>party had elected to exercise his option to cancel the contract should have been made to the first party, and until it was made, the option was not exercised and the contract continued in full force and effect.</p> <p>P. 60</p>