Peck v. Brighton Co.

Citations

• 69 Ill. 200

Syllabus

<p>1. Forfeiture of contract—vendor must first offer to perform if all the payments we due. Where time was made of the essence of a contract for the sale of real estate, and it was provided that the vendor might declare a forfeiture for default in making payments when due, and the vendor never exercised his right to declare a forfeiture in his lifetime, though the payments had all matured, and after his death his heirs declared the contract forfeited for non-payment, it not appearing that they were prepared to make the conveyance to the vendee, it was held, that as the payment of the purchase money and the making of the conveyance were concurrent acts, the heirs of the vendor could not legally declare the forfeiture without showing that they offered to convey the land, or that they were ready and able to convey as required by the contract.</p> <p>3. Where the payment of the purchase money and the making of a conveyance are concurrent acts, the vendor, or his heirs after his death, have no power to declare a forfeiture of a contract of sale of land, unless they at the time are ready and have the ability to convey according to its terms.</p> <p>3. Same—how readiness to perform should he shown. Where the vendor of land is dead, and the last installment of the purchase money is due, under a contract making time of the essence of the contract, and a failure to pay at the time when due ground of forfeiture, a deed should be executed by the heirs and widow of the vendor and tendered to the purchaser, and payment demanded, and on refusal to pay, the heirs may declare a forfeiture.</p> <p>4. Specific performance—laches. Although the purchaser of land may be chargeable with laches in performing on his part by making payment, } et if his laches is waived by the vendor in his lifetime, and, on bill for specific performance against his heirs, they do not set up and insist on his laches in defense, hut rely upon their right to declare a forfeiture under the terms of the contract,