McCain v. Cox

MEMORANDUM OPINION

READY, Chief Judge.

In this diversity action, plaintiffs Charles McCain, a resident of. Tennessee, and Charles D. Shipp, a resident of Mississippi, sue defendant R. E. Cox, a resident of Arkansas, seeking damages for his refusal to consummate a real estate transaction pursuant to a May 4, 1979 contract. 1 In defense, Cox maintains that he possessed the right to terminate the transaction and that plaintiffs or their agents misrepresented the condition of the land. Cox counterclaims for expenses incurred in the transaction. After full evidentiary hearing and consideration of…