Yost v. Silvers
Decision Date | 25 May 1909 |
Citation | 138 Mo. App. 524,119 S.W. 971 |
Parties | YOST et al. v. SILVERS. |
Court | Missouri Court of Appeals |
Appeal from Circuit Court, Scotland County; Chas. D. Stewart, Judge.
Action by B. B. Yost and another against Seth S. Silvers. From a judgment for plaintiffs, defendant appeals. Affirmed.
On the 7th of October, 1907, plaintiffs and defendant entered into a contract, by the terms of which, in consideration of $4,000, to him to be paid, defendant agreed to sell to plaintiffs certain town lots in the town of South Gorin, Scotland county, this state, together with certain described fixtures and personal property then on the lots, as also his business as dealer in lumber, etc.; it being further agreed that defendant was to invoice to the plaintiffs his stock of lumber, coal, cement, paint, etc., on hand in the lumber yard defendant was conducting at South Gorin, and that on November 15, 1907, the parties to the contract Under the agreement plaintiffs were to pay and did pay $1,000 at the time of entering into the agreement; it being stipulated by the parties that, on a failure to comply with the terms of the contract by plaintiffs, they should forfeit this $1,000, the first payment on the contract, or that, on a failure on the part of the defendant, he should return the "$1,000 and pay such damages as the parties of the second part may incur." The remainder of the $4,000 was to be paid as soon as the invoice was completed and deed delivered, which, it was stipulated, should be on or before November 22, 1907. The invoicing was to be done by two competent men, one picked by each party. There are other clauses in the contract, but the controversy arises under those parts of the contract quoted above. The invoicing, as it is called, and as the contract was understood by the parties, meant not merely the listing of the articles bargained, but fixing prices and values thereon. More accurately, it meant the appraisement and classification, which, as to the lumber, as before stated, was to be governed as to price and grading, by "Atlee's Southern Pine Lumber Company, and Radford's price lists and their grading according to associations to which they belong." Each party selected an appraiser, as agreed upon, and these appraisers met at Gorin on the 15th of November, ready and prepared to start in with the invoicing,...
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