Barnes v. Brown

Plaintiffs, David and Valerie Barnes, executed a written real estate purchase contract on June 27, 1985. Plaintiffs (Buyers) agreed to purchase two properties on South Throop Street, Woodstock, Illinois, owned by defendant, Mary Brown (Seller). Ultimately, the transaction failed due to the inability of plaintiffs to obtain financing for the purchase, and plaintiffs brought suit against defendant to recover $4,700 of the $5,000 earnest money that plaintiffs had deposited with defendant.

The cause proceeded to a bench trial, and on October 12, 1988, the trial court entered judgment for…