Skelly Oil Company, a Corporation, Respondent, vs. Tom A. Ashmore and Madelyn Ashmore, Appellants, 365 S.W.2d 582

Summary

Plaintiff sued defendants for specific performance of a contract to sell a parcel of property and for an abatement in the purchase price in an amount representing the proceeds received by defendants under an insurance policy on a building on the property. The building was destroyed by fire in the interim between the execution of the contract of sale and the time for closing of the sale by the exchange of consideration for the deed to the property. The trial court entered judgment for plaintiff, decreed specific performance, and applied the insurance proceeds on the purchase price. The supreme court affirmed, holding specific enforcement of the contract as well as abatement in the purchase price was not inequitable to defendants because they would received their full bargain, while plaintiff would not.