White v. Atkinson

First page of the opinion White v. Atkinson, in Reports of Cases Argued and Determined in the Court of Appeals of Virginia, by Bushrod Washington. Richmond: T. Nicolson, 1799.

White v. Atkinson, 2 Va. (2 Wash.) 94 (1795), was a case involving a contract made for the conveyance of land after the value of paper currency had depreciated.

Background

In November 1779, Coleman, an agent for Atkinson, contracted to sell White some of Atkinson's land. Two-thirds of the land was to be sold initially, after which White would receive the title, and then give a bond to Atkinson to pay the rest plus interest over a twelve-month period. However, White did not pay in time, so Atkinson refused to convey the land to him. The parties could not agree on how to value the land due to depreciations in paper currency, with White wanting to pay the actual value of the land subject to depreciation rather than the value agreed upon at the time of contract. The case came before the High Court of Chancery for resolution.

The Court's Decision

Chancellor Wythe decreed that Atkinson should convey the land to White if the latter paid him the amount promised, based on the value of the land at the time the contract was originally made, minus the eighteen shillings he had already paid to one of Atkinson's creditors. A jury found that White should pay interest and costs associated with the trial. White appealed.

The Supreme Court of Appeals reversed and annulled Wythe’s decision. It found that White should pay court costs to Atkinson. It also found that the value of the land cannot be fixed by the contract due to the rapid depreciation of paper currency at the time, and therefore the jury's verdict ought to stand for determining its value. The Court of Appeals gives the parties the option to convene another jury to ascertain the value of the land again; otherwise, White was required to pay the specie value of the land as of December 1779 plus 5% interest, minus £18 paid, within three months to obtain conveyance, or have his bill dismissed with costs.

See also

• Wythe's Judicial Career
• White v. Atkinson (1800)