Henry v. Black

Citations

• 213 Pa. 620
• 63 A. 250
• 1906 Pa. LEXIS 548

Syllabus

<p>Equity — Specific performance — Purchase of equitable title — Countervailing equities.</p> <p>The purchaser of an equitable title takes it subject to all the countervailing equities to- which it was subject in the hands of the person from whom he purchased it.</p> <p>■ Beal estate — Option—Contract—Variance from, option.</p> <p>An acceptance of an option to be good must be such as to conclude an • agreement or contract between the parties. To do this it must in every respect meet and' correspond with the offer, neither falling within nor going beyond the terms proposed but exactly meeting them at all points and closing them just as they stand.</p> <p>An offer to sell imposes no obligation until it is accepted according to its terms. So long as the offer has been neither accepted nor rejected, the negotiation remains open, and imposes no obligation upon either party; the one may decline to accept, or the other may withdraw his offer and either rejection or withdrawal leaves the matter as if no offer had ever been made. A proposal to accept or an acceptance of an option, upon terms varying from those offered, is a rejection of the offer and puts an end to the negotiation, unless the party who made the original offer renews it or assents to the modification suggested. The other party, having once rejected the offer, cannot afterwards revive it by tendering an acceptance.</p> <p>Where a person makes an offer to purchase on terms different from those set forth in an option, but according to an agreement to be subsequently made, which is not made, a decree of specific performance will not be made, although the intended buyer paid the required hand money and subsequently agreed to purchase under the terms of the option.</p> <p>Equity — Specific performance — Vendor and vendee — Principal and agent — ■ Fraud — Option—Effect of failure to accept option in its entirety.</p> <p>On a bill in equity for specific performance it appeared that M employed C to endeavor to get an