Quivirian Development Company, Inc., a Corporation v. William T. Poteet and Ethel L. Poteet

JOHNSEN, Circuit Judge.

Appellant as vendee sued appellees as vendors to recover a $10,000 deposit made on a Missouri land contract. The jury returned a verdict for appellees, and the court denied appellant’s motion for judgment notwithstanding the verdict and its alternative motion for a new trial.

The $10,000 was initially paid for an option on the property, running to September 1, 1955. Appellant on that date exercised the option. This, under the terms of the contract, converted the payment into a deposit on the purchase price. The $100,000 purchase price was to consist of cash in the amount…