Summary

by John Marshall Harlan Waterman v. Banks — Opinion of the Court

If a conveyance was not demanded within that period, the obligation of R. W. Waterman to make one ceased altogether. Such was the contract; and the suggestion that the transposition of the words 'at any time' was a mere clerical error, to be corrected by construction, is simply an appeal to the court to make for the parties an agreement they did not choose to make for themselves, and then decree its specific performance. No principle of equity would support such a decree.
Source: Wikisource

by John Marshall Harlan Waterman v. Banks — Opinion of the Court

Justice Story says that 'notwithstanding the rule is well established in courts of equity that time will not be regarded as indispensable, in regard to decreeing specific performance of contracts for the actual sale of lands on one side and the actual purchase on the other, it is different where the contract gives a mere election to purchase upon certain conditions.
Source: Wikisource

by John Marshall Harlan Waterman v. Banks — Opinion of the Court

On the other hand, it is well settled that when there is a contract between the owner of land and another person, that if such person shall do a specified act, then he (the owner) will convey the land to him in fee, the relation of vendor and purchaser does not exist between the parties unless and until the act has been done as specified. The court regards is at the case of a condition, in the performance of which the party performing it is entitled to a certain benefit
Source: Wikisource

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