Lehman v. Wilhelms
Lehman v. Wilhelms
Opinion of the Court
On the trial of the issues in relation to the claim which is involved on this appeal the court found (so far as material on this appeal) that, under a land contract, Herman Lehman, as vendee, had agreed that he and his legal representatives would pay to Martha Wilhelms, as vendor, $42,000 for certain land, by paying $5,000 upon the delivery of the contract, and the balance of $37,000 in monthly instal-ments of $325, commencing July 1, 1926, and also interest on all unpaid balances at six per cent per annum, payable semiannually; that when the unpaid balance with accrued interest was reduced to $20,000, Martha Wilhelms, her heirs or assigns, should execute a warranty deed to' Herman Lehman, his heirs or assigns, and he or his heirs or assigns would execute a note and first mortgage upon the property for $20,000, payable within three years from its date, with interest at six per cent per annum; and that the contract recited that there existed a $10,000 mortgage to the First Wisconsin Trust Company, which was an incumbrance on the property, and which would be satisfied when or before the deed was executed. The court further found that, after applying the amounts paid by Herman Lehman, the total amount owing from his estate to the claimant was $28,392.52, with
On those findings and conclusions judgment was entered adjudging, (1) that the claim is allowed at $28,392.52, with interest from August 1, 1934; (2) that this shall not prevent the administrator of Lehman’s estate “from paying said debt according to the terms and at the time specified in the land contract referred to in the findings;” (3) that if that administrator “pays the principal and interest due on the mortgage of the First Wisconsin Trust Company referred to in the findings that said sum so paid for principal and interest shall be deducted from the amount allowed to claimant;” (4) that if that mortgage is not paid by that administrator, then the claimant shall pay, out of the amounts allowed in the judgment, the principal and interest due on that mortgage debt allowed in the judgment when the claimant’s claim is paid by that administrator; and (5) that “upon completion of the payments required to be made by this order or by the terms of the land contract . . . Herman Lehman, his heirs or legal representatives are entitled to a good and sufficient warranty deed in fee simple of the premises above described,
In respect to those provisions in the judgment, appellant contends that, as there was no clause in the land contract which provided for the acceleration of the payments which were to be made in the future, the court erred in allowing the vendee’s claim at $28,392.52 as then owing, although, as the court found, only $8,608.03 were then due. However, the correctness of the court’s findings and conclusions, that, after deducting those $8,608.03 which were then due, the present value of the balance then owing on the contract was $19,784.49, are not questioned by appellant. Under the provision in the contract, that the vendee, Lehman, “hereby agrees and binds himself, his legal representatives, to pay, or cause to be paid, to the said party of the first part, her heirs or assigns, the sum of” $42,000, Lehman assumed, as to himself and the legal representatives of his estate, liability that could be enforced against any of his property which was not subject to a specific lien, and that liability did not terminate upon or by reason of his death. Upon any default in making payment, the holder of the vendor’s rights could elect to sue for the unpaid purchase-money which was due (Oconto Co. v. Bacon, 181 Wis. 538, 195 N. W. 412; Shenners v. Pritchard, 104 Wis. 287, 80 N. W. 458; Harris v. Halverson, 192 Wis. 71, 211 N. W. 295; Jefferson Gardens, Inc., v. Terzan, 216 Wis. 230, 257 N. W. 154); and the filing of the vendor’s claim, which is involved, herein constituted an election to hold the estate of Lehman for the unpaid purchase-money. Although the purchase-price of $42,000 was to be paid in instalments, some of which had not become due up to August 1, 1934, and of which only $6,750.50 on account of principal and $1,857.45 on account of interest
Thus, in substantially the words in sec. 313.07, Stats., the judgment expressly preserved the right of the estate to pay according to the terms and at the times specified in the land contract, and did not accelerate or require the payment of any amount before due, or otherwise make a new contract
By the Court. — Judgment affirmed.
Reference
- Full Case Name
- Estate of Lehman: Lehman, Administrator v. Wilhelms, Trustee
- Status
- Published