Year: 1965
Type: article
Abstract: This is the second of a series of three articles dealing with certain aspects of the installment land contract.The first article' dealt with the nature of the contracting parties' interests, primarily with the effect of equitable conversion.This article proposes to consider the remedies available, first to the vendor and then to the purchaser, upon breach by the opposite party. I. REMEDIES OF THE VENDOR A. Suit at Law for DamagesWhere there has been a substantial breach of a land contract by the purchaser, and the vendor is not in default, the general rule, in both the United States and England, is that the vendor may recover for the loss of his bargain, the difference between the contract price and the market price.'Of course, allowance must be made for any payments advanced by the purchaser which are retained by the vendor.
Author: Lee, Richard H.
Institution: University of Miami
Language: English
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2173375879