Cornelius v. Helms

WYNN, Judge.

In April 1990, plaintiffs C. Preston Cornelius and Marsha H. Cornelius agreed to list a piece of property with Noel Clark, a real estate agent for Hecht Realty, Inc. In June 1990, Ms. Clark notified plaintiffs that a local developer, Ron Major (“Major”), and his company, Mady Construction Company, Inc. (“Mady Co.”), wished to purchase the lot. Plaintiffs agreed to sell the lot to Mady Co.

After various negotiations, plaintiffs entered into a real estate contract with Mady Co. for the purchase and sale of the lot. This contract included the following terms:

$ 1,000.00 Binder to be…