Bloom's Son Co. v. Union Rice Milling Co.

Citations

• 118 La. 311
• 42 So. 947
• 1907 La. LEXIS 717

Syllabus

<p>Sales — Passing of Title — Failure to Pat Price — Abandonment of Contract.</p> <p>The sale of a specific lot of rice, at a fixed price, payable within 10 days, to be shipped on | order of buyer, is not a promise of sale, but a completed sale, by which the ownership passes to the buyer; and the failure of the buyer to pay within 10 days will not have the effect of setting aside the sale, or of authorizing the seller to set it aside without the consent of the buyer. Nor will the latter’s refusal to honor a.sight draft for the price have the effect, even after the 10 days, if so qualified as to preclude the idea of an abandonment of the contract.</p> <p>[Ed. Note. — For cases in point, see Cent. Dig. vol. 43, Sales, § 264.1</p> <p>(Syllabus by the Court.)</p>