Grant v. Sherwood Shores, Inc.

O’QUINN, Justice.

The controlling issue in this case is whether Sherwood Shores, Inc., as vendor, waived its right to cancel without notice two written executory contracts for the sale of six subdivision lots and to retain as liquidated damages all money paid by appellants, as vendees, prior to cancellation.

M. W. Grant, Jr. and Lynn R. Lacoss, acting together, entered into written contracts with Sherwood Shores, Inc., for the *669purchase of two lots, in September of 1966, and four additional lots, in April of 1967. Each contract called for monthly installment payments of $50, after certain…