Russell v. Richards
Supreme Court of New Mexico
702 P.2d 993 (1985)
John and Beth Richards (defendants) sold property under a land installment contract. The contract was assigned to Mary Russell (plaintiff) as assignee-purchaser. The contract provided that if Russell defaulted, she would forfeit her interest in the property. At the time of sale, the value of the property was $48,989. Russell possessed the property for six years and paid $10,782 to the Richardses during that time. Russell rented out a portion of the property for more money than she owed the Richardses each month. Russell defaulted on her payments under the contract. At the time of default, the market value of the property was $82,735. Russell forfeited her interest in the property pursuant to the contract, brought suit, and sought damages in the amount of mortgage payments made on the contract. The trial court found in favor of Russell and awarded damages. The Richardses appealed, arguing the trial court failed to enforce the forfeiture provision in the contract.
Rule of Law
Holding and Reasoning (Walters, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 175,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.