Court Opinion

ID: 9582444
Source: CourtListenerOpinion
Date Created: 2023-08-21 22:26:59.325562+00
Date Added: 2024-06-11T13:37:48.809920
License: Public Domain

WOLFE, Justice.
I concur in the results. I think it sufficient to rest my concurrence upon the well-established rule of law that a purchaser who takes possession of land under a contract of purchase providing for the payment of interest on the unpaid balance of the purchase price, is liable for interest on that amount to the date of its payment even though payment is not made at the date or dates specified in the contract due to the default of the vendor. If the purchaser wishes to escape the payment of interest on the deferred payments during the time that the vendor is in default, he must tender the payments as they fall due and then set aside or appropriate the payments in such a manner and under such conditions as will exclude the vendee from any benefit or advantage which might accrue to him thereunder. See the annotation at 75 A. L. R. 816. It would be inequitable to allow the purchaser to enjoy the use of the land and at the same time allow him the use of the purchase money to the loss of the vendor. In the instant case, the respondents after 1936 did not make a tender of the payments as they fell due and thus they are liable for interest on those amounts during the period that the appellant was in default.