Reid v. Cramer

This is an action to recover judgment on a promissory note tendered as earnest money for the purchase of real property. Bruce Cramer, the purchaser, appeals a judgment enforcing the promissory note in favor of Paul Reid, the seller of the property.

On July 8, 1975, the plaintiff, Paul Reid, entered into an earnest money contract in which he agreed to sell a large tract of undeveloped land to the defendant, Bruce Cramer, a general contractor. The signing of the earnest money contract culminated a series of negotiations which took nearly 1 month during which several offers and counteroffers…