Newell

Newell v. E. B. & A. L. Stone Co.

Good Law
181 Cal. 385·1919 Cal. LEXIS 362·184 P. 662·9 A.L.R. 993
Supreme Court of CaliforniaOctober 8, 1919S. F. No. 8482.California1,363 words

Opinion

Lead Opinion

Melvin, J.

Defendant appeals from a judgment upon a suit for money had and received.

The plaintiff, E. W. Newell, and the defendant corporation entered into a written contract on April 7, 1913, whereby the former agreed to purchase and the latter to sell certain real property for nine thousand two hundred dollars. Of this „ amount the sum of five hundred dollars was paid at the date of the agreement. The sum of one thousand five hundred dollars was due August 1, 1913, and the balance was to be paid in monthly installments of at least two hundred dollars. There was a provision for the monthly payment of interest; time was expressly made of the essence of the agreement ; and it was further provided that upon default in the payment of any of the installments the vendor, E. B. &, A. L. Stone Company, might at its option, without notice to the vendee, declare the entire principal and interest immediately due.

The vendee failed to pay the first installment of one thousand five hundred dollars, due August 1, 1913, but on December 13, 1913, a payment, on account, of something more than five hundred dollars was accepted, and thereafter other sums were paid at various times not specified in the…

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