Porter v. Meier Chevrolet-Buick, Inc.

On May 16, 1967, the plaintiff and defendant executed a contract by which plaintiff agreed to buy the assets of defendant corporation. The assets consisted of the various properties of an automobile agency located in Reedsport. Plaintiff paid $5,000 to defendant on that date to bind the agreement. One paragraph of the contract provided:

“It is agreed between the parties that this agreement shall be binding upon Buyer only at such time as the Chevrolet Division of General Motors shall grant Buyer a selling agreement in Reedsport, Oregon.”

On the date the contract was signed plaintiff was…