Heller, Hirsh & Co. v. Charleston Phosphate Co.

Citations

• 28 S.C. 224
• 5 S.E. 611
• 1888 S.C. LEXIS 44

Syllabus

<p>1. Where a party by written contract agrees to purchase an article at a stated price, to be paid for on delivery by a note, “accompanied by warehouse receipts for acid phosphate or South Carolina rock, either or both,” his contract as to the security is performed only by deposit of warehouse receipts for the identical articles mentioned in the written contract.</p> <p>2. And the buyer having failed to carry out his contract, the seller had the right to sell the article agreed to be sold, and look to the buyer for any deficiency on such resale.</p> <p>3. A purchased the property of B, and agreed to pay certain debts of C, scheduled-at $1,530, and C claimed $1,970 on account thereof, and also held another unliquidated claim against B. After dispute, C accepted $1,530 from A, and receipted for it as full payment of all demands whatsoever against B. Held, that this was not money paid by a third party, and that it might be shown by parol that the receipt did not operate as payment of the said unliquidated claim.</p>