Imas Gruner & Associates, Ltd. v. Stringer

The issue before us on this appeal is whether a contract for the sale of real property is so ambiguous as to be unenforceable, where the contract provides that the sale is contingent upon the buyer’s ability to obtain financing, but fails to set forth the terms of the financing.

Plano Stringer and his wife, Edith Stringer, appellees (sellers), owned a parcel of land located in Gaithersburg, Maryland. On February 23, 1978, Imas Gruner & Associates, Ltd., appellant (buyer), contracted to buy the property for $225,000 and deposited $20,000 with the sellers’ agent, Allied Realty Corporation. The…