Kinzler v. Nacey

WOLLMAN, Chief Justice.

Appellants appeal from a judgment of the circuit court granting appellees’ motion for summary judgment in appellees’ action for cancellation of a purchase agreement and return of their earnest money deposit.

On July 27,1978, the parties entered into a purchase agreement for the sale of a commercial restaurant in Lawrence County known as “The Spruces.” Appellants had operated the restaurant on a full-time basis since May 28, 1976.

Appellees made an earnest money deposit of $25,000 and-took possession of the restaurant on July 30, 1978. Closing was set for August 11, 1978,…