Suh Joon Yang v. Chun Young Yoo

OPINION

COMPTON, Justice.

The Yoos sold the Inlet Inn in downtown Anchorage to the Yangs. The Yangs defaulted on their payments to the Yoos, and the Yoos sought judicial foreclosure. The Yangs filed a counterclaim alleging that the Yoos promised to return their down payment if the Inlet Inn’s revenues for the first year did not exceed $1 million. The Yangs argued that their default was excused and they were entitled to receive their down payment back since the Inlet Inn’s revenues were much less than promised. After a jury trial, the superior court entered judgment in favor of the Yoos and…