Port Investment Co. v. Anderson

Plaintiff and defendant Clara Anderson entered into a contract whereby defendant Anderson agreed to sell a parcel of property to plaintiff for $7,000. Before the consummation of the agreement Anderson sold the property to defendant Peczynski for $7,000. Plaintiff filed suit for specific performance of the contract claiming Peczynski was not a good-faith purchaser, but had knowledge of the prior contract. It asked in the alternative that it be awarded damages if the court found Peczynski was a good-faith purchaser.

The trial court found that Peczynski was a good-faith purchaser, and the record…