Nieschburg v. Nothern

Citations

• 101 Kan. 110
• 165 P. 857
• 1917 Kan. LEXIS 29

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Foreclosure Sale — Assignment of Certificate of Purchase — Acceptance by Assignee — Completed Contract. Where an offer is made by a vendor to assign his right in a certificate of purchase, issued under a foreclosure sale, for a certain sum if accepted within a fixed time, it may be revoked by him until it is accepted; but if the vendee elects to accept the offer and gives notice of his acceptance within the time limited, such an accepted offer fixes the obligations of the parties and becomes a binding contract, and the execution of the assignment and the payment of the consideration must then be made within a reasonable time.</p> <p>2. Same — Assignment of Certificate of Purchase — Method of Acceptance. To be effective the acceptance must comply with the terms of the offer, and if it prescribes a method of signifying acceptance or the conditions upon which the acceptance must be made such method or conditions must be followed; but when it is not so prescribed, acceptance may be made by any legal means.</p> <p>3. Same — Assignment of Certificate of Purchase — Reassignment—Estoppel. When the contract becomes effectual by an acceptance the vendee may assign his rights in it to another, and it is held herein that the vendor, having recognized the validity of the assignment made by the vendee and the rights of the assignee, is not permitted thereafter to set up the defense that the assignment was illegal.</p>