Collins v. Thayer

Citations

• 74 Ill. 138

Syllabus

<p>1. Limitation — of suit to recover money paid on voidable contract. In a suit to recover back money paid upon a voidable contract, the statute of limitations begins to run from the time the contract is terminated by one party or the other, and not before.</p> <p>2. A verbal contract for the sale of land is voidable at the will of either party, but not absolutely void, and the parties have a right to rely upon each other to perform it, until some act is done by one or the other manifesting an intention to terminate it.</p> <p>3. But when anything is done by either party, manifesting an intention to terminate a contract voidable under the statute of frauds, the statute of limitations will begin to run against an action to recover money paid on such contract from that time.</p> <p>4. Statute of frauds — rights of parties to a •voidable contract. The vendor of land, under a verbal contract for the sale of real estate, may terminate it and recover possession of the land, or the purchaser may terminate it and recover payments he may have made, and this, too, with performance or an offer to perform the contract.</p> <p>5. Becoufment. In a suit by a purchaser of land, under a verbal contract which has been terminated at the option of either party, to recover payments made on such contract, the vendor may recoup the value of the use and occupation of the land, if it has been occupied by the purchaser, unless he has been compelled by law to pay the same to the owner of a paramount title.</p>