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Contracts - Liability Of The Assignee Of A Land Contract - Reformation By Extrinsic Evidence
Contracts - Liability Of The Assignee Of A Land Contract - Reformation By Extrinsic Evidence
Michigan Law Review
Defendant Campbell assigned a contract to purchase land from the plaintiff to the defendant bank, the evidence being undisputed that the assignment was additional security for an existing indebtedness of Campbell. A printed form containing a promise by the assignee to pay the purchase price was used. The name of the assignee was left blank in order that the name of a prospective purchaser could be filled in if an anticipated sale materialized. In an action to foreclose the land contract the vendor asked for a deficiency judgment against the defendant bank. Held, that the vendor was not entitled …