The court of chancery by its decree directed specific performance of an agreement calling for the transfer to the complainant by the defendant of certain judgments in consideration of a sum certain to be paid as specified. Held, such a contract, if breached, called for money damages only, and the damages being easily ascertainable and recoverable at law, equitable relief should have been withheld.
The opinion of the court was delivered by BODINE, J.
The defendant appeals from a decree directing the specific performance of an agreement bearing date December 20th, 1935, calling for the transfer of certain judgments for a sum certain to be paid as specified. The amount to be paid was less than the face value of the judgments.
Such a contract, if breached, called for money damages only and is not within the jurisdiction of a court of equity to specifically perform. The damages for the breach of such a contract being easily ascertainable and recoverable at law, equitable relief should have been withheld. Curtice Bros. Co. v. Catts, 72 N.J. Eq. 831; Burr v. Bloomsburg, 101 N.J. Eq. 615.
The decree is, therefore, reversed with costs to the end that the bill may be dismissed.
For affirmance — None.
For reversal — THE CHIEF-JUSTICE, PARKER, CASE, BODINE, DONGES, HEHER, PERSKIE, PORTER, HETFIELD, DEAR, WELLS, WOLFSKEIL, RAFFERTY, HAGUE, JJ. 14.