Ray M. Wright, Inc. v. Stinchcomb

Phipps, Judge.

Plaintiffs, Ray M. Wright, Inc. and others (collectively referred to as ‘Wright”), are a group of corporate homebuilders. Defendant (Dan Stinchcomb) is a real estate developer, who agreed to sell Wright 116 lots in a subdivision in Fayette County. Under the agreement, Wright paid Stinchcomb $10,000 in earnest money and purchased 71 of the lots. Wright brought this action against Stinchcomb for specific performance of his agreement to sell Wright the remaining 45 lots. The trial court ruled that Stinchcomb is entitled to summary judgment because Wright did not tender the purchase…