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Contracts Keyed to Templin
Cantrell-Waind & Associates, Inc. v. Guillaume Motorsports, Inc.
Citation:
968 S.W.2d 72, 62 Ark. App. 66 (Ark. App. 1998)Facts
On August 1, 1994, Guillaume Motorsports, Inc., represented by Todd Williams, leased property to the Bowers with an option to purchase. The contract stipulated that if the Bowers exercised their option and closed the sale within two years (by August 1, 1996), Guillaume would pay Cantrell-Waind a $15,200 commission. The Bowers exercised their option in April 1996, well before the deadline. By July 19, 1996, their loan was approved and they were ready to close. Evidence suggested that Williams approached the Bowers offering to reduce the purchase price by half the commission amount if they would delay closing until after August 1. When they refused, Williams allegedly told various parties involved in the transaction that he would be out of the country until after August 1, making closing before the deadline impossible. Williams was actually in town from July 22-25 but did not make himself available for closing. The sale eventually closed on August 14, 1996, and Guillaume refused to pay the commission.
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