Thompson, Swan & Lee v. Schneider

Respondents are real estate agents at Vancouver, Washington. Appellants were the own*534ers of a farm and equipment in Clarke county, and entered into a written agreement with respondents whereby they agreed to trade their farm for certain real property in Portland, Oregon, belonging to a Mr. Adams. Respondents entered into an agreement with Adams to acquire the Portland property, after which appellants refused to complete the exchange with respondents. This action was to enforce specific performance, or, in the alternative, to enforce the payment of the penalty provided in the contract. After…