Lichtenfeld v. Frederick

WOOD (Fred B.), J.

Esther Liehtenfeld and others (hereinafter referred to as Liehtenfeld) signed a deposit receipt whereby they agreed to buy certain real property of the estate for $325,000, making a deposit of $16,750, the balance to be paid within 60 days. The deposit receipt stated that “should the purchaser fail to pay the balance, of said purchase price, or fail to complete the purchase, as herein provided, the amounts paid hereon may, at the option of the seller, be retained as the consideration for the execution, of this agreement by the seller.”

The executor when signing as seller…