Raynor v. Luckert

This is an action in contract to recover a deposit paid by the plaintiffs pursuant to their agreement to purchase real estate owned by the defendant-sellers. The plaintiffs have appealed the trial court’s entry of summary judgment for the defendants.

The material facts are undisputed. On April 15,1993, the parties executed a written agreement for the purchase and sale of land located in Wenham, Massachusetts. The plaintiffs tendered a $9,200.00 deposit on the $184,000.00 purchase price. Paragraph 21 of the purchase and sale agreement authorized the defendant-sellers to retain the deposit as…