Montgomery v. Pacific Coast Land Bureau

In April, 1886, the defendant, a California corporation, was engaged at the city of San Diego in the business of selling lands upon commission. On the 24th of that month, it sold at public auction to A. and S. Hart a tract of land belonging to the plaintiff for nine thousand dollars. The terms of sale were announced and advertised in advance by means of a printed catalogue, in which a number of different tracts belonging to different owners were described. At the end of each description were stated the terms upon which it would be sold, i. e., the portion of the price to be paid in cash, time of payment of balance, and rate of interest on deferred payments. The terms of sale of plaintiff’s land so announced were as follows: “ Terms, one half cash, balance in one to three years, and interest at ten per cent.” After the description of other tracts to be sold on different terms as to credits, and at the end of the catalogue, was the following:-

“ Title perfect. Instruments of sale at purchaser’s expense. Ten days allowed for search of title. A deposit of ten per centum will be required on the fall of the hammer; balance of cash payment on delivery of deed, and if not so paid (unless…