Hogan v. Leary

Plaintiffs, who are husband and wife, gave a check dated August 4, 1972, to the defendant as a deposit on a tract of land in Bow. On August 29, 1972, a purchase and sale agreement was signed by the parties with a sale price of $11,500 and acknowledging the $1,000 check as a deposit. The agreement provided: “If Buyer defaults he waives claim to the deposit above which becomes the property of the Seller ... as liquidated damages.” On October 5, 1972, the plaintiffs wrote a letter to defendant rescinding their agreement to purchase and on November 13, 1972, brought this action for return of…