F & W Management Corp. v. American Shelter Corp.

BY JUDGE ROBERT P. DOHERTY, JR.

Plaintiff seller agreed to sell and Defendant buyer agreed to buy certain parcels of real estate for a fixed price. The property was to be sold in three separate groups and at three different times. The written contract called for the establishment of an escrow account containing buyer’s funds. That money was to be used as part of the payment for the last group of parcels sold. Alternatively, it was to go to the seller as liquidated damages if the buyer defaulted, or it was to be returned to the buyer if the contract terminated for any reason other than the…