BILLMAN V. HENSEL
391 N.E.2d 671 (1979)
NATURE OF THE CASE: This was a dispute over the sale of a house. Billman (D), buyer,
challenged a judgment in favor of Hensel (P), sellers, in P's action for specific
performance of a contract to sell a house to D.
FACTS: Hensels (P) entered into a contract to sell their house to Billman (D) contingent
upon the ability of D to get a conventional loan on the property for not less than $35,000
within 30 days. D only went to one lender and only discussed a loan amount of $35,000 but
they were short of the cash needed to make up the difference in the loan requested and the
purchase price. D got their parents involved and they urged caution. D told P he was short
$5000 and P offered to reduce the price by $5000. D did not complete the purchase and P sued
to secure $1,000 in earnest money. Judgment went to P and D appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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