Osborn v. Dennison

ANDERSON, PJ.

¶ 1. Douglas and Martha Osborn appeal from a judgment of the circuit court holding that by not directing the return of Harold Dennison's earnest money after a failed residential real estate transaction, they irrevocably elected liquidated damages as their remedy and forfeited their right to sue for actual damages. We affirm the holding of the circuit court.

¶ 2. On March 1, 2005, the Osborns entered into a WB-11 Residential Offer to Purchase contract to sell their house to Dennison. Dennison deposited $2000 in earnest money with the Osborns' broker, One Month Realty (OMR), and the…