Cold Blast Transp. Co. v. Kansas City Bolt & Nut Co.

Citations

• 114 F. 77
• 57 L.R.A. 696
• 1902 U.S. App. LEXIS 4062

Syllabus

<p>Contracts for Future Delivery — Void if Quantity Indeterminable.</p> <p>A contract for the future delivery of personal property is void for want of consideration and mutuality If the quantity to he delivered is conditioned by the will, wish, or want of one of the parties, hut it may be sustained if the quantity is ascertainable otherwise with reasonable certain ty.</p> <p>£. Same — Valid if Mutual and Quantity Specified.</p> <p>An accepted offer to furnish or deliver such articles of personal property as shall be needed, required, or consumed by the established business of the acceptor during a limited time is binding, and may be enforced, because it contains the implied agreement of the acceptor to purchase all the articles required by his business during this time from the party who makes the offer.</p> <p>3. Same — Void for Want of Mutuality if Quantity is not Specified,</p> <p>But an accepted offer to sell or deliver articles at specified prices during a limited time in such amounts or quantities as the acceptor may want or desire in his business, or without any statement of the amount or quantity, is without consideration and void, because the acceptor Is not bound to want, desire, or take any.</p> <p>4. Void Contracts for Future Delivery Valid for Goods Actually De LIVERED, BUT VOID AS TO THOSE NOT DELIVERED.</p> <p>Accepted orders for goods under such void contracts constitute sales of the goods thus ordered, on the terms of the contracts; but they do not validate the agreements as to articles which the one refuses to purchase or the other refuses to sell or deliver under the void contracts, because neither party is bound to take or deliver any amount or quantity of these articles thereunder.</p> <p>5. Contracts — Intentior of Parties cannot Prevail Over Terms of.</p> <p>The intention of parties cannot be imported into a contract where its terms are plain and unambiguous, and they do not express it.</p> <p>6. Verified Account Prevails Over Unverified Answe