Rainey v. Stansell

CRAWFORD, Judge.

This is an interlocutory appeal granted to both parties from the orders of the trial court denying their respective motions for summary judgment.

On September 27, 1987, plaintiff, Brad Rainey, (Purchaser) entered into a contract with defendant, Stephen Stansell, (Seller) for Rainey to purchase approximately 33 acres of land in Shelby County for $400,-000. The contract provided in part:

3. This contract is contingent upon Purchaser obtaining adequate financing within 75 days from the date this contract is executed by all parties. If Purchaser cannot so procure such financing,…