Camden v. Mayhew

Citations

• 129 U.S. 73
• 9 S. Ct. 246
• 32 L. Ed. 608
• 1889 U.S. LEXIS 1665

Syllabus

<p>When the decree of a court of equity, for the sale of a tract of land, requires the sale to he. made “ upon the terms, cash in hand upon the day of sale,” and a person bidding for it at the sale is the highest bidder, and as such is duly declared to be the purchaser, no confirmation of the sale by the court is necessary in order to fix liability upon him for the deficiency arising upon a resale, in case he refuses, without cause, to fulfil his contract; and, if the purchaser refuses to pay the amount bid, the court, without confirming the sale, may order the tract to be resold, and that the purchaser shall pay the expenses arising from the non-completion of the purchase, the application and the resale, and also any deficiency in price in the resale.</p> <p>When a purchaser at a sale of real estate, under a decree of a court of equity, refuses, without cause, to mate his bid good, he may be compelled to do so by rule or attachment issuing out of the court under whose decree the sale was had; or he may be, proceeded against in the same suit by rule, (or in any other mode devised by the court, which will enable him to meet the issue as to his liability,) in order to make him liable for a deficiency resulting from a resale caused by his refusal to make his bid good.</p>