CONTRACTS-RISK OF LOSS BETWEEN VENDOR AND PURCHASER IN LAND CONTRACT

Authors

Abstract

Plaintiff entered into a contract to sell his grocery business to the defendant for a specified amount, part payment to be by way of the conveyance of a house and lot owned by the defendant, the title to pass upon payment by the plaintiff of certain outstanding debts of the grocery business. Subsequent to the execution of the contract, but before conveyance of the house and lot and while the defendant was still in possession, the house was destroyed by fire and the plaintiff sues to have $2,500 substituted, that amount being the agreed valuation at which the property was taken. Held, possession remaining in the defendant, no beneficial ownership passed by the contract and he must bear the loss. Martin Grocery Co. v. Meng Co. (Ky. 1926) 279 S. W. 661.

Recommended Citation

CONTRACTS-RISK OF LOSS BETWEEN VENDOR AND PURCHASER IN LAND CONTRACT, 24 Mich. L. Rev. 838 (1926).
Available at: https://repository.law.umich.edu/mlr/vol24/iss8/8