Wyatt v. Palmer

Defendants Warren and Courtney Palmer appeal a judgment in favor of plaintiffs Stephen and Donna Wyatt in a breach of contract action that arose out of a sale of real property. We affirm in part and reverse in part.

Defendants own Palmer Real Estate Development. They construct new homes for resale on properties that they buy and subdivide. In July 1990 the Wyatts agreed to buy a new home from the Palmers on lot 39 of the Foothills Development, and the parties executed a purchase and sale agreement to that effect. The purchase and sale agreement included a default clause which read, in part,…