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May 2016 Update
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\u8220\'3fRisk of loss\u8221\'3f is a classic question in the law of real estate
contracts. To put the question in graphic form, we suppose that, while the cont
ract is executory, improvements on the premises are destroyed or very substantia
lly damaged by a casualty, such as fire or windstorm, that is not the fault of e
ither vendor or purchaser. Does this constitute a failure of consideration, so t
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of
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, so that the purchaser has equitable title to the land, then it follows logical
ly that the loss should fall upon him as the owner. Indeed, that is the traditio
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Legal scholars have criticized extending the doctrine of
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to this situation, saying such things as it is \u8220\'3fa good example of the
trouble than comes when a moral principle is carried to the limit of its logic,
rather than to the limit of its morality.\u8221\'3f
}
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Some courts have placed the risk on the vendor by refusing to apply the doctrin
e to casualty losses. The best solution, to which most persons would intuitively
be drawn, is contained in the Uniform Vendor and Purchaser Risk Act, which make
s loss follow possession. But only a few states have adopted the Act, and Washin
gton has not.
\par
}
}
}
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\u160\'3f
\par
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Risk of loss was the precise question in Ashford v. Reese.
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After fire totally destroyed a building that constituted three-fourths of the v
alue of the land, the court held that the purchaser on an executory real estate
installment contract (REK) might rescind for failure of consideration. What abou
t
}
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equitable
}
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{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs20 \cf1 \i0
}
{\f2 \b1 \chcbpat23 \fs20 \cf19 \i0
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conversion
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{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
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? To escape the supposed trap that doctrine would present, the court not only re
jected the doctrine of
}
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equitable
}
}
{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs20 \cf1 \i0
}
{\f2 \b1 \chcbpat23 \fs20 \cf19 \i0
{\f2 \strike0 \ul0 \b1 \sa0 \sb0 \fs20 \cf19 \i0
conversion
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{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs20 \cf1 \i0
, but, swallowing both camel and gnat, announced that in Washington a contract p
urchaser had no interest in the land, either legal or equitable. As we well know
, Ashford v. Reese has been overruled and purchasers have long been recognized t
o have a \u8220\'3freal estate\u8221\'3f interest, though the state supreme cour
t still retains its fear of
}
{\f2 \b1 \chcbpat23 \fs20 \cf19 \i0
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equitable
}
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{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs20 \cf1 \i0

}
{\f2 \b1 \chcbpat23 \fs20 \cf19 \i0
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conversion
}
}
{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs20 \cf1 \i0
.
}
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4
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The irony is that, whether by
}
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equitable
}
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{\f2 \b0 \chcbpat2 \fs20 \cf1 \i0
}
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}
{\f2 \b1 \chcbpat23 \fs20 \cf19 \i0
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conversion
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}
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or by whatever other mechanism the court may have had in mind, if the purchaser
is regarded as owner of a \u8220\'3freal estate\u8221\'3f interest, it should f
ollow that risk of loss is on him. However, it is clear that only the language a
nd reasoning in Ashford v. Reese was \u8220\'3foverruled.\u8221\'3f The result o
n the facts, that risk of loss is on the vendor, is still the rule in Washington
.
\par
}
}
}
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\u160\'3f
\par
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A couple of sizable limitations to Ashford\rquote s rule have been recognized. F
irst, as Judge Askren\rquote s concurring opinion suggested in that decision, th
e parties to a REK may contract as to the risk of loss.
}
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Thus, printed-form contracts in use in Washington generally contain a clause pl
acing risk of loss on the purchaser. The second limitation of Ashford is that th
e purchaser is not privileged to rescind when buildings destroyed by casualty do
not constitute a substantial part of the land\rquote s value.
}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs20 \cf1 \i0
It was so held in Cameron v. Hurn, where it appeared that the value of land and
buildings was $11,000, and the value of buildings destroyed by fire was $1,750.
}
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6
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\par
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\u160\'3f
\par
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Westlaw. \u169\'3f 2016 Thomson Reuters. No Claim to Orig. U.S. Govt. Works.
\par
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Footnotes
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}
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{\*\bkmkstart co_footnote_Ie01e3ca1c2a111e6b73792e2912}{\*\bkmkend co_footnote_I
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\par
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}\f2 \li0 \b0 \ql \fs18 \ri0 \cf1 \i0 \intbl \cell \intbl
{\li900 \ri0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
Judson Falknor Professor of Law Emeritus, University of Washington, Of Counsel,
Karr Tuttle Campbell, Member of the Washington Bar.
\par
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}
}
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w }
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{\f2 \b0 \fs18 \cf1 \i0
{\*\bkmkstart co_footnote_Ie01e63b1c2a111e6b73792e2912}{\*\bkmkend co_footnote_I
e01e63b1c2a111e6b73792e2912}
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a1
}\f2 \super \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf5 \i0 }}
\par
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}
}\f2 \li0 \b0 \ql \fs18 \ri0 \cf1 \i0 \intbl \cell \intbl
{\li900 \ri0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
Professor of Law, Seattle University, Member of the Washington Bar.
\par
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}
}
}
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w }
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{\*\bkmkstart co_footnote_Ie01e63b2c2a111e6b73792e2912}{\*\bkmkend co_footnote_I
e01e63b2c2a111e6b73792e2912}
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1
}\f2 \super \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf5 \i0 }}
\par
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}\f2 \li0 \b0 \ql \fs18 \ri0 \cf1 \i0 \intbl \cell \intbl
{\li900 \ri0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
See R. Cunningham, W. Stoebuck & D. Whitman, Property \u167\'3f 10.13 (4th ed. 2
001).
\par
}
}
}
}
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{\f2 \b0 \fs18 \cf1 \i0
{\*\bkmkstart co_footnote_Ie01e8ac0c2a111e6b73792e2912}{\*\bkmkend co_footnote_I
e01e8ac0c2a111e6b73792e2912}
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2
}\f2 \super \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf5 \i0 }}
\par
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}
}\f2 \li0 \b0 \ql \fs18 \ri0 \cf1 \i0 \intbl \cell \intbl
{\li900 \ri0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
See D. Dobbs, Remedies \u167\'3f 2.3 (1973).
\par
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{\li900 \ri0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
{\field {\*\fldinst HYPERLINK "http://www.westlaw.com/Link/Document/FullText?fin
dType=Y&serNum=1925102684&pubNum=0000660&originatingDoc=I97f3dae5db9211da979cc03
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Ashford v. Reese, 132 Wash. 649, 233 P. 29 (1925)
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{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
.
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{\li900 \f2 \qj \b0 \ri0 \fs18 \cf1 \i0
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See section 9 of this chapter and see especially
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Tomlinson v. Clarke, 118 Wn.2d 498, 825 P.2d 706 (1992)
}\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf5 \i0 }}
{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
, and
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Cascade Security Bank v. Butler, 88 Wn.2d 777, 567 P.2d 631 (1977)
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{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
.
\par
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\par
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{\li900 \ri0
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{\field {\*\fldinst HYPERLINK "http://www.westlaw.com/Link/Document/FullText?fin
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Grays Harbor Nat\rquote l Bank v. Jacobs, 169 Wash. 674, 14 P.2d 963 (1932)
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{\f2 \strike0 \ul0 \b0 \sa0 \sb0 \fs18 \cf1 \i0
, enforced a clause placing risk of loss on the purchaser.
\par
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147 Wash. 434, 266 P. 179 (1928)
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. The contract covered some personal property, as well as land and buildings. It
appeared that the land and buildings were valued in the contract at $11,000.
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\u169\'3f 2017 Thomson Reuters. No claim to original U.S. Government Works.
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