Knight v. Carter

The action is to recover the sum of $500 paid by the plaintiffs on account of the purchase price for certain real property owned by the defendants. The agreed price of the sale was $28,750. There was a written preliminary or hinder agreement, duly signed by the parties on or about April 26,1954, with provision therein for a further cash payment “ on signing of superceding contract ” and provision for preparation of a formal contract to be delivered to the broker for the signature of the parties. The preliminary agreement provided for the closing *353of title on or before June 15, 1954, at a date,…