Harrell v. Smith

Counsel

Messrs. Wilcox Hardee , for appellants, cite: Validity of contract to sell property not then owned by vendor: 209 F., 291. In action for breach of contract to purchase, seller must prove readiness and willingness to comply: 296 F., 233; 279 F., 72; 83 F., 824. Vendor need not make tender where vendee gives notice he will not comply: 291 F., 435. Rescission of contract not warranted on mere belief that opposite party will breach his contract: 125 Tenn., 595 ; Ann. Cas., 1913 — C, 376. Equity will not divest an estate for breach of condition subsequent where vendee in possession: 122 Miss., 190 ; 13 A.L.R., 560. Messrs. J.M. Lynch and W. Marshall Bridges , for respondent, cite: Vendor in contract to sell real estate, having received part payment, in order to establish his right to retain it must show readiness and willingness to comply: 99 S.C. 83 ; 6 Rich. Eq., 324; 27 R.C.L., 626; 39 Cyc., 1371. Defects in negotiable paper in hands of holder binding on transferee with knowledge: 3 R.C.L., 1065; 2 Pomeroy Eq. Jur., 3rd Ed., Sec. 603.