Christopher Associates, L.P. v. Sessoms

In this appeal, we must construe a liquidated damages clause in a real estate sales contract.

The facts are undisputed. On October 18, 1988, appellees J. C. Sessoms, Jr., and Patricia T. Sessoms, as Seller, executed a contract with appellant Christopher Associates, L.P., a Virginia limited partnership, as Buyer, for the conveyance of approximately 132 acres of realty located in the City of Suffolk.

The agreement contained the following provisions that are pertinent to this controversy; we are particularly concerned with paragraph 6.

“WITNESSETH:

“That for and in consideration of the sum of Ten…