Aries v. Squires

BURROUGHS, J.,

pro

tem.

This is an action by Walter J. and Clella M. Aries to recover the sum of $7,000 alleged to be due from the defendant Ella B. Squires by virtue of an agreement entered into by the parties on February 15, 1926. The plaintiffs recovered judgment as prayed for and from the said judgment defendant appeals.

The agreement above referred to recites that Ella B. Squires, the defendant herein, is the owner of the Dresden Apartments, 1919 West Seventh Street, Los Angeles. That the plaintiffs Aries, herein, are lessees of said apartments and are in arrears for rent due thereon in the sum of $3,550, which they are unable to pay. That for the purpose of settling their business difficulties without resorting to the courts, it is provided in said agreement that the Aries will execute a bill of sale for all of the furniture, furnishings and equipment belonging to them and located in said apartment, and will assign and surrender the lease thereof to the defendant Squires, and also assign and surrender to the said defendant Ella B. Squires certain promissory notes received by them from tenants of said apartments for rent past due. As a consideration therefor the defendant Squires agreed as follows: “The party of the first part (Squires) agrees that she will pay the said second parties (Aries) their heirs, administrators, and assigns, the sum of Seven Thousand ($7,000.00) Dollars in gold coin of the United States, at the time and when she sells the Dresden Apartments, Los Angeles, California.”

The present dispute between the parties arises out of the proper interpretation to be given to the paragraph, above

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quoted, as to the time when the payment of the $7,000 falls due. Under the evidence admitted by the court, it appears that the plaintiffs Aries have performed all of the conditions required by said contract and that the defendant has resold all of the furniture, furnishings and equipment conveyed to her by the plaintiffs, also that she has leased the apartment house for a period of five years, but that she still retains title to the real estate and apartment house itself. It is claimed by the appellant that the clause of the contract requiring her to pay the plaintiffs $7,000 fixes the time of payment as of the date she sells the real estate and 'apartment house thereon. It is the claim of the respondent that the time referred to for the payment was upon the sale of the furniture, furnishings and equipment and the leasing of the apartment house.