Boyd v. American Savings Bank & Trust Co.

Citations

• 40 Wash. 571
• 82 P. 904
• 1905 Wash. LEXIS 1028

Syllabus

<p>Escrows — Certificate of Stock — Delivery Upon Stipulated Payments — Action by Vendor for Possession — Non-Performance by Vendee — Evidence—Directing Verdict for Defendant. Where stock was delivered to a hank in escrow to be delivered to a purchaser upon the payment of $2,000 in certain monthly installments, a finding of a substantial compliance with the contract upon the part ot the purchaser is sustained by the evidence, where it appears that it was arranged that, during the owner’s absence from the state, he should draw on the hank for the amounts due, that $1,000 was deposited to his credit in monthly installments practically as agreed upon, before he returned, at whiclrtime $300 was past due, and he was informed that the purchaser had been waiting for him to draw, when the funds would he ready; that the day after his return the $300 was deposited before any demand was made by him, and at the time of his demand for the stock, three or four days later, nothing was due on the contract; and in an action by him to recover the stock, a verdict is properly directed for the defendant.</p>