Tidwell v. Carroll Builders, Inc.

Weltner, Justice.

On October 7,1966, Carroll Builders, Inc. and Charles E. Tidwell entered into an agreement providing that Carroll would construct for Tidwell a residence according to certain plans and specifications, and “without the usual and customary builder’s fee and profit connected with said construction.” Instead, the parties agreed that “at such time as [Tidwell] shall convey fee simple title to said premises to any third party” he would pay to Carroll “a sum which shall be equivalent to one-half of the net proceeds derived from the sale of said premises.” There followed a means of…