Vilsack v. Wilson

Citations

• 269 Pa. 77
• 112 A. 17
• 1920 Pa. LEXIS 769

Syllabus

<p>Contract — Bale—Corporate sioch — Repurchase—Demand to repurchase — Damages—Measure of damages.</p> <p>1. Where a seller of corporate stock agrees to repurchase the same at par within one year from the date of the sale, “unless sold before the expiration of said one year from the date hereof,” the obligation upon the seller to repurchase the bonds, does not arise until the end of the year, and the purchaser has a reasonable time thereafter in which to demand a. repurchase.</p> <p>2. The general rule that the measure of damages for the buyer’s refusal to accept goods, is the difference between the contract price and the market value, does not apply to the exchange of specific corporate stock at par value, for other property, with an agreement to repurchase the game at par.</p> <p>Appeals — New trial — Error of law.</p> <p>3. The granting of a new trial is properly subject to review when based upon an error of law.</p>