Kaiser v. Wright

LOHR, Justice.

Christopher H. Kaiser, the petitioner, commenced this action to recover $20,000 paid as earnest money on a contract to purchase a residence in Vail, Colorado, owned by David L. Wright. Wright, and Chaplin & Company, the real estate broker which held the $20,000 deposit, were named as defendants. We granted certiorari to review the decision of the court of appeals affirming the trial court’s judgment that Wright was entitled to retain the earnest money as liquidated damages when Kaiser withdrew his tender of the unpaid purchase price at the closing after receiving only oral…