Krantz v. Holt

DURHAM, Justice:

On August 1, 1986, Randy Krantz and Kathleen L. Holt entered into an earnest money sales agreement (the agreement) in which Krantz agreed to buy and Holt agreed to sell certain real property located in Davis County, Utah. Under the terms of the agreement, the selling price for the property was $27,000, of which $500 was to be paid as an earnest money deposit, with the remaining $26,500 balance due at closing. At the time of signing the agreement, Krantz gave Holt a personal check in the amount of $500. Holt did not transfer the property as provided in the agreement.

On…