McClellan v. Darrah

Citations

• 50 Ill. 249

Syllabus

<p>1. Specific performance—dday inpayment—and want of good faith. Although in contracts for the sale of land, where time is not expressly made an essential stipulation, the mere failure by the purchaser to tender payment within the timo agreed upon is not a reason for denying specific performance, if such delay receives a satisfactory explanation and one consistent with the good faith of the purchaser, yet he has never been permitted first wilfully to repudiate the obligations of his own contract, and then turn round and ask a court of chancery specifically to enforce it.</p> <p>2. So, in this case, a party holding a contract for the purchase of land, sold the premises to another by a verbal agreement, the understanding being that it was a cash transaction. The second purchaser, in order to make the cash payment, borrowed the money of a third person at ten per cent, interest; in order to secure the lender of this money it was paid to the vendor of the second purchaser, who gave his note to the lender therefor, bearing interest at ten per cent., as agreed upon. The purchaser went into possession and made some improvements. This sale to the second purchaser took place in the spring of 1863 ; his vendor obtained a deed under his contract of purchase in December, 1864, having paid a year’s interest at ten per cent, on the note he had given for the money borrowed by his vendee. The deed obtained bv the intermediate vendor ran directly to the second purchaser, and was at once tendered to him and payment demanded, but he denied having agreed to pay any interest on the money he had borrowed, which had been paid by his vendor, and refused to do so. A few days afterwards, the purchaser offered to pay the money with six per cent, interest, which was declined ; and in the summer of 1865 he offered to pay the interest at the rate he had originally agreed upon, but this was also refused. On,bill subsequently filed by the purchaser for a specific performance, it was held that his