Henderson v. Vernalis Farming Co.

Action to recover commissions under a contract between plaintiff’s assignor, one W. C. Walker, and defendant. Judgment went for defendant in the trial court and plaintiff appeals. The contract, which is made a part of the answer, provides as follows:

On the same day that this contract was executed (July 30, 1913) Cale and Schieve entered into a written agreement with defendant for the purchase of the property described in the commission agreement. By its terms Cale and Schieve agreed to pay for the property $218,400 in the following manner: $60,000 within one year from the signing of the contract, with interest on the whole amount of the purchase price from the date of the contract at the rate of six per cent per annum net, interest to be payable semiannually ; one-half of all moneys emanating from any contract sales of said lands, and any advance payments made by the prospective purchasers of said lands during said year; $60,000 annually thereafter and interest on the remaining unpaid portions of said purchase price; and one- half of all moneys from land sales as above mentioned, until the principal sum of $218,400 and interest shall be fully paid and satisfied. In addition they…