Park Valley Corp. v. Bagley

HOWE, Justice:

This is an appeal by the sellers under a Uniform Real Estate Contract from a judgment requiring them to refund to the buyer part of the purchase price the buyer had paid on the contract prior to buyer’s default.

On May 11, 1978, the defendants and appellants (sellers) entered into a Uniform Real Estate Contract with the plaintiff and respondent (buyer) for the sale and purchase of 7200 acres of land located in western Box Elder County in this state for the sum of $1,080,000. The contract recited a down payment of $162,000 which consisted of $108,000 in cash and a credit of…