Chadbourne v. Stockton Savings & Loan Society

Citations

• 88 Cal. 636
• 26 P. 529
• 1891 Cal. LEXIS 752

Syllabus

<p>Vendor and Purchaser — Offer to Sell—Time of Essence — Performance of Conditions — Specific Performance—Complaint — General Demurrer. — A complaint by assignees of a vendee for the specific performance of a contract for the conveyance of land, which is in terms a mere offer to sell to the vendee upon specified terms within two years, expressly making time of the essence of the contract, providing that the rent in a lease to third parties was paid as specified in the lease, and by the terms of which the vendee, in consideration of the offer to sell, agreed to keep the buildings on the land insured for a specified sum, and to assign the policies of insurance to the vendor, which does not allege that the vendee, or any one claiming under him, did anything in pursuance of the contract prior to an offer of performance by the plaintiffs, two days before the expiration of the time limited by the offer, and more than twelve months after the interest of the vendee had been sold under execution, does not state a cause of action, and a general demurrer thereto should be sustained.</p> <p>Id. — Consideration of Offer — Agreement to Insure — Performance £y Vendee—■ Reasonable Time — Pleading. — It is essential, in order to entitle the assignees of the vendee to enforce the contract, that the complaint should allege performance of the agreement respecting insurance on the part of the vendee, which was the sole consideration of the offer to sell by the vendor, or an offer to perform or an excuse for nonperformance, on the part of the vendee, within a reasonable time after the making of the offer to sell.</p>