Holt v. Manuel

On May 5, I960, Dr. Charles S. Holt entered into a contract with the duly authorized agent of the appellees for the purchase of a lot with the building situated thereon in the city of Fort Smith, for the sum of $35,000. The property was incumbered by a mortgage which the purchaser was to assume, the balance of the purchase price to be paid in cash with a deposit made at the time of the execution of the contract of $1,000' with Eugene Henderson, agent of the sellers, which sum was to be held by him until the consummation of the sale or to be returned if tbe sellers failed to carry out the…