Cypress Realty, Inc. v. Boggess

This is an action by a real estate broker to recover on a promissory note payable to plaintiff and given by defendant as down payment pursuant to an earnest money agreement by which defendant agreed to purchase from the sellers certain real property. Defendant appeals from a judgment for plaintiff.

On January 20,1975, defendant signed an earnest money agreement for the purchase of a parcel of property for $130,000, and gave his note for $7,500 as a down payment. The note was made payable to plaintiff, it being understood between plaintiff and the sellers that a designated part of the $7,500…