Contracts Keyed to Murphy
Omni Group, Inc v. Seattle-First National Bank
The Plaintiff, Omni Group, Inc. (Plaintiff), sued to enforce an earnest money agreement for the purchase of real estate from the Defendant, Seattle-First National Bank (Defendant). The agreement stated that the final sale was subject to receiving an architect’s report satisfactory to purchaser. If the report was satisfactory the Defendant would give Plaintiff his acceptance within 15 days otherwise if no notice is given the transaction is null and void. Plaintiff decided to forgo the study and the parties entered negotiations of certain terms. Defendant however refused to sale. Defendant argues that the waiver of a satisfactory report to Plaintiff made the promise illusory. Plaintiff argues that the clause only created a condition subsequent that Plaintiff could waive.
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