Scoville v. Terry

Citations

• 84 Va. 548
• 5 S.E. 530
• 1888 Va. LEXIS 108

Syllabus

<p>Contracts—Construction—Case at bar.—S. and T., lessees of hotel for a term of two and a half years, agreed to advance §8,000 for its improvement. At the end of said term, S. had leased it for five years. S. agreed to pay T. at the end of their joint term, §2,500 for his interest in the improvement. Before that time arrived, hotel was burned down. S. endeavored to escape paying the §2,500 on the pretext that, as T. was a part owner of the improvement at the time of its destruction, he should bear his part of the loss:</p> <p>Held :</p> <p>It was a sale in presentí for payment at a prescribed time in futuro, and S. is bound to pay T. the agreed price.</p>