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Property Keyed to Merrill
Arko Enterprises, Inc. v. Wood
Facts
Defendant Arko Enterprises, Inc. entered into a contract for the purchase of land. Defendant Jackson paid Arko part of the purchase price upon the contract’s execution and agreed to pay the balance after Arko’s completion of improvements. Jackson was either a trustee for Plaintiffs John T. Wood and E.L. Coleman or a party to a joint venture with plaintiffs. The City of Cocoa acquired the land by eminent domain. Plaintiffs sought a declaration of their rights under the contract and Arko’s reimbursement for the amount paid at the contract’s execution. The judge found in favor of Wood, Coleman, and Jackson. Arko appealed.
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