Seddon v. Rosenbaum

Citations

• 85 Va. 928
• 3 L.R.A. 337
• 9 S.E. 326
• 1889 Va. LEXIS 107

Syllabus

<p>1. Contracts.&emdash; When writing required,&emdash;Clause 7, section 2840, Code 1887, contemplates such contracts as on their face have performance postponed beyond one year, and not such as may or may not chance to be performed within that period.</p> <p>2. Idem.&emdash;Performance&emdash;Defeasance&emdash;Distinction.&emdash;See opinion as to distinction between “an agreement that is not to be performed within a year,” and “an agreement which is not to be defeated within a year.”</p> <p>3. Idem&emdash;Want of mutuality.&emdash;Queere, whether, where there is an option granted to one-side which is not granted to the other and there is a want of mutuality, the contract is not binding.</p> <p>4. Idem&emdash;Case at bar.&emdash;An agreement to sell stock at the end of three years, with an option to the purchaser to call it at any time, may be performed within a year and is not required to be in writing signed by the party sought to be charged.</p>