STROUSE V. STARBUCK
987 S.W.2d 827 (1999)
NATURE OF THE CASE: This was a dispute over a breach of a real estate contract.
FACTS: Strouse (P) owned 239 acres of land. P was not particularly interested in selling
his property but when a real estate agent said she had a buyer an authorization to show the
property was signed. A real estate contract was eventually signed for $225,000 with $175,000
to be obtained in financing. A $10,000 escrow was established. Starbuck (D) did not obtain
the financing and informed P. P sued claiming that D did not use reasonable diligence and
good faith in obtaining the financing. D got the judgment and P appealed. The contract has a
liquidated damages clause for 10% of the total sales price.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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