Sometime previous to the suit in question, defendant had executed a mortgage to the plaintiff, the loan secured by such mortgage to be repaid in installments. After having paid some but not all of the installments, defendant defaulted. As a result of negotiations between the parties and the Federal Land Bank of Omaha, it was agreed that the defendant should pay a lump sum in full satisfaction of the balance of the installments due under the mortgage. Performance was later tendered under this agreement, but the plaintiff refused to accept same, and subsequently brought suit in equity to foreclose the mortgage. Defendant set up the accord as an affirmative defense, asking its specific enforcement, and received a decree in his favor. The plaintiff took an appeal. Held, that the decree ordering plaintiff to accept the terms of the accord should be affirmed. Union Central Life Ins. Co. of Cincinnati v. lmsland, (C. C. A. 8th, 1937) 91 F. (2d) 365.
Benjamin H. Dewey,
CONTRACTS - SPECIFIC ENFORCEMENT OF AN EXECUTORY ACCORD,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol36/iss3/15