CONTRACTS--RISK OF LOSS UNDER EXECUTORY LAND CONTRACT--DISPOSITION OF INSURANCE PROCESS.

Authors

Abstract

When buildings, which are part of the subject matter of an executory contract for the sale of land, are accidentally destroyed by fire, there immediately arises the question of who, as between the vendor and the purchase, shall bear the loss. The majority of courts in this country place it on the purchaser. This was the result reached in the leading English case of Paine v. Meller and has been adopted in the following states: California, Indiana, Iowa, Kentucky, Louisiana, Maryland, Missouri, Montana, Nebraska, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota and West Virginia. Under this view, all that is required to put the risk of loss on the purchaser is a mutually obligatory, unconditional contract, although payment, possession and conveyance have been postponed.

Recommended Citation

CONTRACTS--RISK OF LOSS UNDER EXECUTORY LAND CONTRACT--DISPOSITION OF INSURANCE PROCESS., 29 Mich. L. Rev. 487 (1931).
Available at: https://repository.law.umich.edu/mlr/vol29/iss4/8