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Contracts Keyed to Barnett
Cumbest v. Harris
Citation:
Supreme Court of Mississippi, 363 So. 2d 294 (1978)Facts
On May 19, 1976 Cumbest and Harris contracted for the sale and purchase of certain hi-fi equipment via a bill of sale. An option agreement was also signed at that time allowing Cumbest to repurchase the equipment on or before June 7, 1976 at 5 p.m. On June 7th Cumbest made every effort possible to pay the required amount of money to Harris but Harris purposely avoided meeting with him. Cumbest therefore left the money with Harris’ landlord. A week later Cumbest sued Harris for equitable relief. He alleged that the transaction was intended to be a loan and that the audio equipment served as collateral, and that the complete assemblage of the audio equipment took 15 years for Cumbest to assemble and build after extensive research and is therefore irreplaceable.
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12m 10s