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Recovery Of The Purchase Price Before Title Has Passed, John B. Waite Jan 1916

Recovery Of The Purchase Price Before Title Has Passed, John B. Waite

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In an action recently instituted by The General Electric Co. to recover on a contract to manufacture certain machinery for the defendant, which machinery the defendant had refused to accept, the trial court adopted the contract price as the measure of damages. The upper court approved this measure of damages, rejecting the argument that the measure should have been the difference between the market value and the contract price, and dismissed, as no longer appropriate to modern conditions, the decisions in Bement v. Smith, 15 Wend. (N. Y.) 493, and Shawhan v. Van Nest. 25 Oh. St. 490. The court ...


The American Mutuum, Jerome C. Knowlton Jan 1892

The American Mutuum, Jerome C. Knowlton

Articles

The delivery of goods that may be accurately designated by number, weight or measure, such as corn or wine, on an undertaking that goods of like kind and quality shall be returned, creates what is known in the civil law as the contract of mutuum, a kind of bailment contract. Text writers on the common law regard such a transaction as a sale and not a bailment. "Where there is no obligation to return the specific article, and the receiver is at liberty to return another thing of equal value, he becomes debtor to make the return, and the title ...