McKoy v. Blalock

I dissent from the rulings in Divisions 3 and 4 of the opinion. The trial judge construed the special stipulations of the contract as giving the purchaser the right to void the contract if he were unable to procure financing of the down payment on the purchase price, and also found that the purchaser had exercised this right and accordingly directed a verdict in favor of the seller and against the broker and the broker’s bondsman for recovery of one-half of the earnest money.

The contract for the purchase and sale of realty in the present case provided for a down payment in cash with the…