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Contracts Keyed to Marshall
Truman L. Flatt & Sons Co. v. Schupf
Citation:
649 N.E.2d 990 (1995)Facts
In March 1993, plaintiff and defendants entered a contract in which defendants agreed to sell plaintiff a parcel of land located in Springfield, Illinois. The contract stated the purchase price was to be $160,000. On June 23 and July 6, 1993, plaintiff requested information concerning the status of defendants’ preparation for fulfillment of the contract. Defendants’ attorney replied in a letter dated July 8. The letter declared it was the defendants’ position plaintiff’s failure to waive the rezoning requirement and elect to proceed under the contract at the time the rezoning was denied, coupled with the new offer to buy the property at less than the contract price, effectively voided the contract. Plaintiff apparently sent one more letter in an attempt to convince defendants to honor the contract, but defendants declined. Defendants then arranged to have plaintiff’s earnest money returned.
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