Slye v. Brock

THOMPSON, J.

The defendants have appealed from a judgment which was rendered against them in a suit for declaratory relief under the provisions of section 1060 of the Code of Civil Procedure.

This proceeding determines the rights of the respective parties to this suit respecting the property which is involved in a written agreement for the sale thereof. The property consists of shares in the Grass Valley Boundary Mines Company, a corporation, and claims against that company, together with specified mining claims and other real property. Some of the shares of the mining corporation were deposited in escrow. The real property includes lot 5, block 21, of the city of Grass Valley according to the official plat thereof, and two other mining claims known as ‘1 Gamblers” and “Church Hill” quartz claims in that vicinity.

[672]

The written agreement for the sale of this property was executed by the respective parties on July 30, 1932. The only portion of that agreement which is involved in this proceeding reads as follows:

“Now,

upon demand

of Joseph Slye, Trustee, or his nominee, conveyance of said real property and all of the certificates representing shares of stock above enumerated and including any other shares now owned and held by said parties, or in anywise or at all

the property

of said persons or in which they now have any interest whatsoever, together with

all of the properties hereinabove mentioned

as being the property of said persons,

shall be sold and delivered

to said Slye, Trustee, upon the payment therefor of the sum of forty-five thousand dollars; it is understood that if said sum shall be made from a sale of the Grass Valley Boundary Mines Company property that said parties shall receive one-fifth of each and every payment made upon account of said purchase of said Grass Valley Boundary Mines Company property, and that at least one-half of said principal sum shall be paid within one year from the date hereof and the remaining one-half within two years, upon the delivery of good and merchantable titles,—it being understood that transfer of claims may be made upon filings already had, save and except surveying and platting hereinabove provided to be immediately done by M. J. Brock. If, however, said property shall be disposed of and paid for at any earlier date then the balance of moneys then due and payable to said parties shall be forthwith paid.”