Brett v. Wall

Appeal by Thomas E. Brett, defendant, from a judgment for plaintiffs, Kenneth D. Wall and David S. Whiting, in plaintiffs' suit for specific performance, or damages in the alternative, involving the purchase and sale of land. We reverse and remand.

The parties, who are experienced real estate agents, executed a purchase agreement on a lot of land on Ono Island, near Gulf Shores, Alabama. The purchase price of $110,000 was to be satisfied by an assumption by the buyer of an existing mortgage, a second mortgage and promissory note for a portion of the remainder, and a part payment in cash. The…