Catholic Charities of the Archdiocese of Chicago v. Thorpe

Defendants George Thorpe and Terry Pearson (collectively Buyer) appeal from the summary judgment of the circuit court of Cook County granted in favor of plaintiff Catholic Charities of the Archdiocese of Chicago (Seller) for the earnest money as liquidated damages on a contract to purchase real estate. On appeal, Buyer argues that no contract was formed because the payment of earnest money was a condition precedent to formation of the contract and was never performed; that the liquidated damages clause is unenforceable because the Seller retained the option of recovering actual damages; that…