Court reviews whether plantiff properly exercised its right to terminate a contract for the sale of real property

CAMERON GENERAL CONTRACTORS, INC. v. KINGSTON PIKE, LLC (Tenn. Ct. App. December 21, 2011)

Cameron General Contractors, Inc., a Nebraska corporation ("Cameron"), sued Kingston Pike, LLC, a Georgia limited liability company ("Kingston Pike"), for breach of a contract concerning the sale of real property located in Knoxville, Tennessee. Prior to trial, Cameron elected to exercise its contractual right to terminate the contract, and the case proceeded to trial on the issue of damages. After a bench trial, the Trial Court entered its order finding and holding, inter alia, that the contract did not limit Cameron to the return of its earnest money, and granting Cameron a judgment against Kingston Pike for damages in the amount of $872,418.22, plus attorney's fees of $137,656.56. Kingston Pike appeals to this Court. We find and hold that the contract at issue clearly and unambiguously provides that once Cameron chose to terminate the contract, Cameron's sole remedy for Kingston Pike's breach was a return of Cameron's earnest money deposit. We, therefore, reverse the Trial Court's October 28, 2010 order.

Opinion available at:
http://www.tba2.org/tba_files/TCA/2011/cameron_122111.pdf

Court Reviews Whether Defendant Undertook a Reasonable Effort to Obtain a Loan

ELIZABETH C. WRIGHT, v. FREDERICO A. DIXON, III (Tenn. Ct. App. May 2, 2011)

In this action to enforce a contract for the sale of real estate against defendant buyer, the Trial Court held that defendant failed to make reasonable efforts to obtain a loan in accordance with the requirement to obtain a mortgage for 100% financing, and awarded damages to plaintiff for breach of the contract since the plaintiff had sold the property before trial.

On appeal, we hold that the evidence preponderates against the Trial Judge's finding that the defendant failed to put forth reasonable efforts to obtain a loan which was a condition in the contract for purchase of the property, and remand. 


Opinion available at:

http://www.tba2.org/tba_files/TCA/2011/wrighte_050211.pdf

Court reviews whether seller breached a contract in an agreement for the sale of real property

ROBERT J. DAVIDSON and wife, JEANETTE DAVIDSON v. RILEY WILSON (Tenn. Ct. App. June 21, 2010)

This case involves a contract for the sale of real property and a subsequent verbal agreement. The trial court found that the seller breached the contract. We reverse and remand.

Opinion may be found at:
http://www.tba2.org/tba_files/TCA/2010/davidsonr_062110.pdf