Munroe v. Reliance Land Co.

Citations

• 272 Pa. 464
• 116 A. 383
• 1922 Pa. LEXIS 850

Syllabus

<p>Contract — Sale of land — Conditions—Sale of stock of corporation — Costs divided.</p> <p>1. Where a land company enters into an agreement to sell land, and in the agreement covenants that it will assist the purchaser “in obtaining subscriptions to twenty thousand shares of stock” of a company organized to take over the land and build thereon a manufacturing plant, and it appears that the plant could not be established on the land unless the money was raised by the sale of the stock, the condition is not fulfilled if the parties fail to obtain subscriptions for all the twenty thousand shares.</p> <p>2. In such case assistance by the land company in the sale of part of the twenty thousand shares is not a compliance.</p> <p>3. In this ease the costs were divided between the parties.</p>