Safari, Inc. v. Verdoorn

(on reassignment).

In this appeal, we affirm the trial court and hold that the forfeiture provision contained within a contract for sale is void as a matter of law and that the trial court appropriately awarded damages and restitution.

FACTS

In 1972, Dimitrios and Karen Theodoso-poulos (Sellers) purchased a bar/lounge and incorporated it as Safari, Inc. (Safari). In March of 1985, a fire in an adjoining business, caused extensive smoke and water damage to the bar. Sellers substantially remodeled it and reopened it in June, 1985. Following the renovation, Sellers decided to sell the bar,…