PMC, Inc. v. Porthole Yachts, Ltd.

Opinion

RYLAARSDAM, J.

This case involves the question of who is entitled to recover the deposit in an aborted boat purchase. The trial court awarded the deposit to PMC, Inc. (PMC), the buyer in the transaction. Porthole Yachts, Ltd. (Porthole), the seller, contends the trial court erred in finding PMC failed to accept a proposed modification concerning a marine survey contingency. Alternatively, Porthole argues PMC’s decision to reject the survey was not made in good faith. We conclude both contentions are without merit and affirm.

Facts

In July 1993, the parties executed a “Purchase Agreement,”…