Kaiser v. Wright

BERMAN, Judge.

Plaintiff appeals from a judgment, entered after trial to the court, which declared a forfeiture of his earnest money under a real estate contract. We affirm.

The parties contracted for plaintiff to purchase a house from defendant Wright. Plaintiff paid $20,000 earnest money to defendant Chaplin, the selling broker. The contract provided that, at the time of closing, payment of $45,000 in cash together with two promissory notes totalling $110,-000, would constitute the remainder of the $175,000 purchase price. Two encumbrances on the property were to be paid by the seller.

*88The…