Guie v. Byers

Citations

• 95 Wash. 492
• 164 P. 75
• 1917 Wash. LEXIS 835

Syllabus

<p>Contracts — Construction — Intent of Parties — “Renewal” of Mortgage. An agreement that $1,000 of the purchase price of property he placed in escrow and used to pay commissions and expenses in securing an “extension” and a “renewal” of a past due $40,000 mortgage, which both parties to the contract had to obtain or lose their interest in the property, should be construed to cover costs and expenses incurred by the purchaser in taking up the mortgage and replacing it by a new loan, after all efforts to obtain a “renewal” of the original mortgage had failed; since the word “renewal” is not a word of art or of technical significance, but should cover the temporary purchase of the original mortgage for the purpose of saving the property as within the intent of the parties.</p>