CENTEX HOMES CORP. V. BOAG
320 A.2d 194 (1974)
NATURE OF THE CASE: Centex (P), vendor, instituted an action against Boad (D), buyers,
for specific performance or, in the alternative, for liquidated damages, for defendants'
breach of purchase agreement for an apartment in P's condominium project.
FACTS: Boag (D) entered into a contract to purchase a condominium in a high rise built by
Centex (P). Prior to signing the contract, D gave P a $525 deposit on the $73,700 purchase
price. Shortly after signing the contract D gave P a check in the amount of $6,780. D was
informed by his employer, shortly thereafter, that he was going to be transferred to
Chicago. D informed P that he would be unable to complete the contract, and stopped payment
on the second check. About two weeks later, P attempted to cash the second check, but it was
dishonored by D's bank. P filed suit seeking specific performance on the contract, or in the
alternative, seeking liquidated damages in the amount of $6,780. P then moved for summary
judgment.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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