Thurmond v. Allgood
Thurmond v. Allgood
Opinion of the Court
W. P. DeLaperriere filed his petition against J. M. Allgood, to compel specific performance of an option for sale of certain land by Allgood to Sam and Floyd Thurmond, which option, it was alleged, was afterwards transferred by the Thurmonds to DeLaperriere. To the same term of court Sam and Floyd Thurmond also filed their petition against J. M. Allgood, praying that he be required to execute to them his bond for titles to the land, as agreed upon. The two cases were consolidated and tried together. The court directed a verdict for the defendant, and the plaintiffs excepted.
The controlling question in the case is whether the option, under its terms, was assignable. The option is as follows (formal parts omitted) : “This agreement made and entered into this 10th day of September, 1912, by and between J. M. Allgood and Floyd' and Samuel Thurmond (hereinafter referred to as Thurmonds), all of said State, witnesseth: That for and in consideration of the sum of one dollar in hand paid at and before the signing and delivery of these presents, the receipt whereof is hereby acknowledged, and of the stipulations hereinafter set out, the said Allgood hereby agrees to sell said Thurmonds all that tract or parcel of land [described], for the sum of $2,725.84, on the following conditions, to wit: That this agreement is to be considered and is only an option to buy on terms herein named, until the sum of $348.84 is paid on the principal sum of $2,725.84 above named by Dec. 1st, 1913. When this $348.84 shall have been paid, the said Allgood agrees to execute a bond for title conditioned on payment of the balance of the purchase-money by said Thurmonds; the said balance to be paid as follows: $324 on Dee. 1st, 1914, $324.00 on Dec. 1st, 1915, $324.00 on Dec. 1st, 1916, $324.00 on Dec. 1st, 1917, $324.00 on Dec. 1st, 1918, $324.00 on Dec. 1st, 1919, $432.00 on Dec. 1st, 1920. It is understood that deferred payments shall bear no interest before maturity. In the event that said Thurmonds are unable to make the first payment of $348.84 on December 1st, 1913, of their own means, then they are to pay said Allgood $25.84 as interest on the first payment, and this agreement becomes void.”
It will be observed .that the option itself contains no express words authorizing the vendees to assign it. The defendant’s answer to the
Judgment affirmed.
Reference
- Full Case Name
- THURMOND, for use, etc. v. ALLGOOD
- Status
- Published