Alco Construction Co. v. Peachwood Development Corp.

In 1963 appellant Aleo Construction Company, Inc. contracted to purchase certain lots in a Montgomery County real estate development from appellee Peachwood Development Corporation. Peachwood at the time was beneficiary of a commitment by the Washington Suburban Sanitary Commission to extend water and sewer lines to the development, and had agreed to contribute to the construction costs of this extension. The contract of sale between appellee and Aleo provided that if the required contribution to the Commission exceeded $12,000 the seller should notify the purchaser and “should no…