Morgan v. Hemphill

Felton, Chief Judge.

A provision in a contract for the sale of realty which provides that, “The purchase price of said property shall be: Fifty-two' thousand dollars ($52,000), to be paid as follows: Subject to terms of existing loan- (which is approx. $30,000, and int. rate suitable to purchaser). All cash to be paid above loan,” is too indefinite and uncertain to identify any particular loan and fails to disclose the ternrs of payment of the purchase price and the contract, therefore, is unenforceable at law (Morgan v. Hemphill, 214 Ga. 555, 105 S. E. 2d 580), and a real-estate broker cannot…