Kliesen v. Equity Exchange Mercantile Ass'n

Citations

• 101 Kan. 138
• 165 P. 650
• 1917 Kan. LEXIS 35

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Contract — Purchase of Property — Installments—Default—No Waiver —Rescission. In a contract for the purchase of property on installments, time being- made the essence, the acceptance of payment of second installment five days late did not operate as a waiver of prompt payment of the next and last installment.</p> <p>2. Same. The last payment having been due five days the vendor notified the bank through which the payment was to be made not to receive it, and proceeded to notify the purchaser that he would cancel the contract. Held, that he had a right to rescind.</p> <p>3. Same — Default—Notice of Rescission — Tender Back of Payments Received. Having within a few days after such notice and refusal offered to return the money received on the contract and demanded possession which was refused, and having in his petition tendered back all payments less rent, the plaintiff thereby sufficiently offered to place the purchaser in statu quo although the notice contained nothing on that subject.</p>