Easton v. Cressey

Citations

• 100 Cal. 75
• 34 P. 622
• 1893 Cal. LEXIS 749

Syllabus

<p>Vendor and Purchaser—Contract of Rale—Liquidated Damages.— Where a contract for the sale of land provides for the payment of a cash deposit, and that upon the failure of the purchaser to pay the next installment of purchase money the contract should be void so far as the purchaser was concerned, and that the deposit should be retained by the vendor as liquidated damages, the provision for liquidated damages is void under sections 1670 and 1671 of the Civil Code.</p> <p>Id.—Rescission of Contract—Actual Damage.—When a contract of sale and purchase of land is abandoned or rescinded by the parties, the purchaser, though in default, may recover back installments paid of the . purchase money, less the actual damage to the vendor occasioned by his breach of contract.</p> <p>Id.—Depreciation in Market Value—Removal of Cloud on Title.— When the vendor has not suffered any actual damage from the failure of the purchaser to pay the installment of the purchase money on the very day named in the contract, and the purchaser is willing, able and anxious to take the land and pay the contract price, evidence tending to show a depreciation in the market value of the land and the removal by the vendor of a cloud on the title is immaterial.</p>