Ihlenfeldt v. Guastella

This is an assumpsit action in which the plaintiffs-vendees are seeking to recover a $5,000 deposit they paid pursuant to the terms of a preliminary purchase agreement. The defendants-vendors prevailed below upon the trial court’s finding of no cause of action, entered November 20, 1969.

Under the terms of the agreement between the parties plaintiffs’ deposit was to serve as liquidated damages for the defendants should the plaintiffs default. Conversely, upon a default by the defendants, the deposit was to be returned immediately to the plaintiffs in full termination of the agreement. Had…