Howard v. Thomas

Plaintiff filed this suit for specific performance of an earnest money receipt in which the defendants agreed to sell a ranch to plaintiff. The trial court entered a decree allowing specific performance subject to certain conditions, and defendants appeal.

The earnest money receipt provided the defendants would sell certain real property to plaintiff for $54,480, with $14,480 as “earnest money and in part payment,” and the balance to be paid at the rate of $10,000 per year at 7 per cent interest, “or if seller desires the annual payment can be less.” The receipt also allowed the sellers the…