Summary
The Supreme Court of South Carolina considered whether a strict forfeiture provision in an installment land contract barred a defaulting purchaser from seeking equitable redemption. The court held that equity may relieve a purchaser from forfeiture and provide an opportunity for redemption when warranted by the circumstances, and remanded for that determination. The court affirmed the Court of Appeals as modified.
Holdings
- A court of equity may relieve a defaulting purchaser from a strict forfeiture provision in an installment land contract and provide an opportunity for redemption when equity so demands.
- Lewis was not automatically entitled to redemption on the existing record; the case had to be remanded for the master-in-equity to determine whether an equitable right of redemption existed under the circumstances.
Questions Presented
- Whether an installment land contract's strict forfeiture provision may be enforced without allowing a defaulting purchaser an opportunity to redeem.
- Whether equitable principles permit a court to relieve a defaulting purchaser from forfeiture when enforcement would constitute an inequitable penalty.
Disposition
remanded
Cases Cited (13)
- Lewis v. Premium Investment Corp., 341 S.C. 539, 535 S.E.2d 139 (Ct. App. 2000)(affirmed as modified)
- C.A.N. Enterprises, Inc. v. South Carolina Health & Human Services Finance Commission, 296 S.C. 373, 373 S.E.2d 584 (1988)(followed)
- Gambrell v. Travelers Insurance Cos., 280 S.C. 69, 310 S.E.2d 814 (1983)(followed)
- Tate v. Le Master, 231 S.C. 429, 99 S.E.2d 39 (1957)(followed)
- Kirkland Distributing Co. of Columbia, S.C. v. United States, 276 F.2d 138 (4th Cir. 1960)(followed)
- South Carolina Department of Health and Environmental Control v. Kennedy, 289 S.C. 73, 344 S.E.2d 859 (Ct. App. 1986)(followed)
- Lane v. New York Life Insurance Co., 147 S.C. 333, 374, 145 S.E. 196, 209 (1928)(followed)
- Dempsey v. Huskey, 224 S.C. 536, 80 S.E.2d 119 (1954)(followed)
- Bartles v. Livingston, 282 S.C. 448, 319 S.E.2d 707 (Ct. App. 1984)(followed)
- Southern Pole Buildings, Inc. v. Williams, 289 S.C. 521, 347 S.E.2d 121 (Ct. App. 1986)(not expressly treated)
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Cited In (0)
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