Contracts Keyed to Dawson
Petterson v. Pattberg
ProfessorMelissa A. Hale
CaseCast™ – "What you need to know"
Facts
Defendant was the owner of a bond executed by Petterson and secured by a third mortgage on a parcel of real estate owned by Petterson. On April 4, 1924, the amount of unpaid principal was $5,450. Defendant told Petterson that if he paid the April installment on time and paid the remaining principal in cash at any time before the end of May, Defendant would deduct $780 from the amount owed. Petterson paid the April installment on time. In late May, Petterson came to Defendant’s home and indicated that he was there to pay the remaining principal. Defendant refused to accept the money and told Petterson that he had sold the bond and mortgage to a third party. As a result, Petterson was required to pay the full amount of the remaining principal.
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