Bloom v. Baron

Citations

• 269 Pa. 327
• 112 A. 455
• 1921 Pa. LEXIS 557

Syllabus

<p>Vendor and vendee — Option—Acceptance — Change of terms — ■ Consideration.</p> <p>1. Where a lease of real estate gives to the tenant an option to purchase the same “within one year” with settlement within thirty days of notice of exercise of option, and the tenant by writing, two months after the date of the lease, gives notice of the acceptance of the option with settlement on a date stated about six month^ thereafter, and time to be the essence of the contract, such written notice, accepted by the owner with hand money, is binding on the ■ tenant, and if he fails to make settlement on the day stated, he cannot thereafter and within the year, exercise the option on the terms specified in the lease.</p> <p>2. In such case, the extension of time from thirty days to almost six months for settlement, was a new, good and sufficient consideration, from the owner, for the covenants on the part of the tenant as to the cancellation of the original option, the making time for performance, not later, than the six months mentioned, as of the essence of the contract, and a stipulation for payment as liquidated damages for breach.</p> <p>Appeals — Assignments of error — Failure to set forth decree— Grouping of exceptions.</p> <p>3. Assignments of error in an appeal from a decree dismissing a bill in equity, are improper, which do not set forth the decree, and which group in one assignment the dismissal of various excepitions to requests for findings.</p>