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Union Bond & Trust Co. v. Blue Creek Redwood Co

Law Dictionary
CASE BRIEFS

Law Dictionary

Featuring Black's Law Dictionary 2nd Ed.
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Property Law Keyed to Cribbet

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Bloomberg Law

Citation. 22 Ill.128 F. Supp. 709 (N.D. Cal. 1955)

Brief Fact Summary. The Plaintiffs paid $585,000.00 toward the purchase of timberlands from Defendant, but had defaulted on the terms of payment for more than 60 days. The contract provided a default of more than 60 days, entitled the Defendant to resume possession of the property, retain all payments and cancel the contract.

Synopsis of Rule of Law. The court found that the proper relief would be to enter a decree allowing Plaintiffs to complete the contract within a specified time by paying the entire purchase price together with Defendant’s damages resulting from the delay in performance.


Facts. In this federal diversity jurisdiction case, the Plaintiffs, vendees of an installment contract for the purchase of timberlands from Defendant, vendor, for the price of $750,000.00, filed suit for a declaratory judgment and for specific performance. The Plaintiffs paid $585,000.00 toward the purchase, but had defaulted on the terms of payment for more than 60 days. The Defendant had notified the Plaintiffs of the default and then notified Plaintiffs that the contract was cancelled. The contract provided that in the event vendee should continue default for more than 60 days after written demand by the vendor for performance, the vendor was entitled to resume possession of the property, retain all payments and cancel the contract, which provided that time was of the essence.

Issue. Because California law provides relief from forfeiture, what form should the Plaintiffs’ relief take?

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