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Property Law and Real Estate

University of Michigan Law School

Journal

1936

Difference money

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Full-Text Articles in Law

Specific Performance--Damages--Action At Law By Vendor Of Land For The Full Purchase Price Feb 1936

Specific Performance--Damages--Action At Law By Vendor Of Land For The Full Purchase Price

Michigan Law Review

In an action at law by a vendor of land for breach of contract by the purchaser, the title not having passed, the traditional measure of damages is the difference between the contract price and the value of the land at the time the vendor's conveyance was due. But where a conveyance is not yet due from the vendor a majority of jurisdictions allow recovery of all but the last installment of the purchase money, on the ground that in that case the promise to pay is independent of the vendor's promise to convey. Even where a conveyance is due …