Fritsch v. Texas Real Estate Commission

CLAYTON, Justice.

Appellants appeal from an order of reimbursement for damages from the Real Estate Recovery Fund created by the Real Estate License Act. Tex.Rev.Civ.Stat.Ann. art. 6573a, § 8 (Vernon Supp.1978), hereinafter referred to as the Act. The effective date of this Act was May 19, 1975.

On March 25, 1975, appellants, Mr. and Mrs. Jack Fritsch, entered into a contract of sale for the purchase of approximately eleven acres of land from James A. Stuart, a real estate salesman. This contract provided for a total purchase price of $21,000, payable to Stuart, with a cash payment of $5,000…