Kasten Construction Co. v. Jolles

In Dixon v. Haft, 253 Md. 692, 253 A. 2d 715 (1969) this Court was called upon to interpret the legal effect of a provision in a real estate contract which permitted the purchaser to renege before settlement and suffer only the forfeiture of a $5,000 deposit. Speaking for the Court, Chief Judge Hammond identified the so-called “Memorandum of Sale” in that case as

“one of that strange breed of agreements relating to the sale and purchase of land which flourishes in Montgomery County where seemingly it is regarded as a contract of sale although in fact and in law it is essentially ‘an option…