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Contracts Keyed to Templin
Foster v. Cross
Citation:650 P.2d 406 (1982)
Michael Stephens was interested in purchasing land for development into a single family residential project, and contacted real estate broke Warren Sanders to locate suitable land. Sanders began negotiations with Robert and Arlene Cross (defendants) for the purchase of their 0 acres of a homestead. The defendants refused initial offers, but eventually put forward an offer of their own which was accepted by Sanders, on behalf of Stephens and an additional co-purchaser, Robert Milby. The defendants repeatedly asked for financial statements of the buyers, despite Sanders representations that the buyers were financially stable. Stephens and Milby financial positions deteriorated and both of their interests in the purchase were eventually assigned to James Foster (plaintiff). The defendants received the financial statements of Stephens and Milby and refused to proceed with the closing. The plaintiff sued for specific performance.
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