Friday, June 29, 2012

Court reviews whether a buyer wrongfully refused to close on an agreement to purchase property

DAVID R. SEATON, ET AL. v. WISE PROPERTIES-TN, LLC (Tenn. Ct. App. June 22, 2012)

This appeal concerns a contract for the purchase and sale of property. The buyer refused to close pursuant to the terms of the contract and stopped payment on its earnest money check. The sellers brought an action for specific performance and breach of contract. The buyer alleged that the sellers breached the contract first. The trial court found in favor of the buyer, holding that because the sellers did not cause title to be examined ten days from the effective date of the contract, the buyer had a right to withdraw the earnest money payment. The sellers appeal. We affirm the judgment of the trial court.

Opinion available at: