Austin v. Willis

Undercolfer, Justice.

This is a suit for specific performance and damages for breach of a contract to sell real estate. The trial court denied the defendants’ motion for a summary judgment and this appeal is from that ruling which was certified for immediate review. Held:

1. "A contract for sale of real estate is valid and binding where it is in writing and contains the following essen tials: (1) it must specify the parties, that is, the seller and the buyer; (2) it must sufficiently describe the subject-matter of the contract; and (3) it must name the consideration. The consideration need not…