Gross v. Partenheimer

Citations

• 159 Pa. 556
• 28 A. 370
• 1894 Pa. LEXIS 895

Syllabus

<p>Contract — Sale of land — Mortgage—Accruing interest.</p> <p>In April, 1893, plaintiff agreed to purchase from defendant a lot for eight thousand dollars, payable five thousand dollars in cash on delivery of deed, and the residue by plaintiff’s assumption of a mortgage for three thousand dollars then on the lot, plaintiff “ to pay also the accruing interest on said mortgage not exceeding six months.” The six months’ interest from date of mortgage to Feb. 26, 1893, was past due and unpaid, and to avoid foreclosure proceedings, plaintiff was compelled to pay the same. He then brought suit to recover the amount thus paid. Eeld, that he could recover.</p> <p>“ Accruing interest” means running or accumulating interest as distinguished from accrued or matured interest. The words “accruing interest ” in the agreement did not refer to nor in any manner embrace any part of the six months’ interest which at the date of the contract was then overdue and unpaid. That interest was an incumbrance on the lot which defendant was bound to remove.</p>