Shipley v. Cook

BURNETT, Judge.

This case presents two issues: (1) Did buyers of real property breach their contract with the sellers by failing to deliver a debenture in payment of the purchase price? (2) If so, what damages are the sellers entitled to recover? The district court, holding that a breach had occurred, awarded damages equaling the face value of the debenture. For reasons explained below, we uphold the court’s determination of a breach, but we vacate the damage award and remand the case for further findings on that issue.

The circumstances surrounding the sale of the ranch are extraordinarily…