An agreement between a brother and a sister to purchase a home was a land installment contract - meaning that under Maryland law, the brother had a right to cancel the deal and receive a refund of the payments he made, the Court of Special Appeals held recently. The intermediate appellate court vacated an earlier decision of the Baltimore County Circuit Court, which had concluded that the contract between Benjamin Whitaker Jr. and his sister Dorothy was a simply a loan repayment agreement and not subject to cancellation provisions of the Real Property Article. Under that provision, a purchaser has the unconditional right to cancel the contract and receive a refund of all payments and deposits made pursuant to the contract if the vendor fails to record the contract among the land records...
An agreement between a brother and a sister to purchase a home was a land installment contract - meaning that under Maryland law, the brother had a right to cancel the deal and receive a refund of the payments he made, the Court of Special Appeals held last week. The intermediate appellate court vacated an earlier decision of the Baltimore County Circuit Court, which had concluded that the contract between Benjamin Whitaker Jr. and his sister Dorothy was a simply a loan repayment agreement, and not subject to the cancellation provisions of Section 10-102 of the Real Property Article. Under that provision, a purchaser has the unconditional right to cancel the contract - and to receive a refund of all payments and deposits made pursuant to the contract - if the vendor fails to record the ...
Land Installment Contract - Whether Violated
Land Installment contract; Purchase Agreement. Tenant at sufferance.
Two Kansas City-area people who bought a vehicle from Heartland Chevrolet in 2006 settled their lawsuit against the dealership for $100,000. Kristyn Krueger and Michael Krueger bought a 2005 Chevrolet Trailblazer from Heartland after being told it was a GMC Certified vehicle. At the time of purchase, the Kruegers signed a retail buyers' order, an arbitration addendum to the order and a retail installment contract. The arbitration agreement included a provision that if the buyers brought a claim in arbitration, Heartland could not be liable for more than $5,000 in punitive damages, said plaintiffs' attorney Dale Irwin.
With one exception, trial court did not err in rendering summary declaratory judgments in favor of two insurance companies and an owner of land, against a purported land installment contract purchaser, holding that no land installment contract had been entered into, so that the purported purchaser had no insurable interest in the property, and no contract claim against the owner. Owner had signed and delivered a proposed land installment contract, but the purchaser rejected this signed offer when she told the owner that material terms of the offer, including a provision that the property be sold as is, were unacceptable to her. The offer thereafter was not open for acceptance, and the purported purchaser could not thereafter accept and record the contract without ratification, or a ...
Car buyers were not required to arbitrate class claims alleging that they incurred unearned charges in connection with their purchase of optional life insurance coverage, the Arkansas Supreme Court has ruled in affirming judgment. The plaintiffs are a husband and wife who purchased a 2006 PT Cruiser under a retail installment contract with Chrysler Financial. In connection with the transaction, the plaintiffs elected to purchase credit-life coverage from the defendant, an insurance company. The premium for the optional insurance coverage amounted to $1,450 and was financed with the purchase price of the vehicle into the life of the loan.
CIVIL - breach of contract; judgment notwithstanding the verdict; Civ.R. 50(B); installment contract; non-conforming goods; notice; R.C. 1302.65(C)(1); substantial impairment; R.C. 1302.70(C); course of performance; R.C.1302.11(A) and (C); motion for new trial; weight of the evidence; judgment contrary to law; Civ.R.59(A)(6), (7), and (B); inconsistent jury verdicts; jury question; failure to object
Fraud: Appellant failed to prove fraud by clear and convincing evidence where appellant was college-educated and had substantial business experience, and appellee provided her with valuable consideration for transferring the deed to her farm to him and signing a land installment contract. R.C. Chapter 5313, R.C. 5313.01, 5313.02: A "land installment contract" is an executory agreement which is not required to be fully performed within one year of agreement's date, in which vendor agrees to convey title to real property in this state to vendee who agrees to pay purchase price in installment payments while vendor retains title to property as security; While parties' LIC initially was to be fully performed within one year and thus was not an LIC as defined in R.C. Chapter 5313, the parti...
A creditor could enforce an ipso facto clause in a retail installment contract and repossess a vehicle after the debtor failed to reaffirm the debt in her bankruptcy case, Maryland's highest court has ruled in answering a certified question from a U.S. Bankruptcy Court. Ford Motor Credit repossessed a Chapter 7 debtor's car shortly after she was discharged in bankruptcy, even though she had made timely monthly payments before, during and after her bankruptcy proceeding.
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