Duiven v. Brakesman

This case arises out of an option agreement relating to the sale of real property. The plaintiffs, Mr. and Mrs. Duiven, are the buyers, the defendants, Mr. and Mrs. Brakesman, the sellers.

On June 15, 1955, the parties entered into an instrument entitled “Preliminary Agreement.” This agreement provided, in substance, that the plaintiffs would purchase the Royal Motel and Restaurant, in the city, of Grand Rapids, for the sum of $50,000, with adjustments to be made for certain improvements, the agreement acknowledging the receipt of a “payment of $2,000 as a binder.” It further provided that…