For Your Data Covington V. Robinson Example Brief
September 16, 2019
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Covington v. Robinson case brief summary
723 S.W.2d 643 (1986)
CASE FACTS
The prospective purchasers' contract called for them to obtain financing for 75 per centum of the buy price. However, they were exclusively able to obtain 73.89 per centum of the buy price, then they refused to larn through alongside the sale. The farm management fellowship kept the earnest coin deposit of the prospective purchasers, claiming that a breach had occurred. The purchasers sued to recover the earnest coin deposit.
DISCUSSION
CONCLUSION
The judgment of the trial courtroom granting summary judgment to the farm management fellowship was affirmed inwards the prospective purchasers' activity to recover their earnest money.
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723 S.W.2d 643 (1986)
CASE SYNOPSIS
Plaintiff prospective purchasers of province appealed a judgment of the Circuit Court of Shelby County (Tennessee), which granted the motion of accused farm management fellowship for summary judgment inwards the prospective purchasers' activity to recover the earnest coin they lost when the sale did non larn through.CASE FACTS
The prospective purchasers' contract called for them to obtain financing for 75 per centum of the buy price. However, they were exclusively able to obtain 73.89 per centum of the buy price, then they refused to larn through alongside the sale. The farm management fellowship kept the earnest coin deposit of the prospective purchasers, claiming that a breach had occurred. The purchasers sued to recover the earnest coin deposit.
DISCUSSION
- The courtroom establish that the trial courtroom was inwards mistake inwards belongings that the obtaining of a loan inwards the amount of 73.98 per centum was substantial functioning which excused the non-occurrence of the status precedent.
- However, it held that the trial court's finding of lack of reasonable diligence or skillful religious belief was proper.
- Asking for a "maximum loan" as well as genuinely applying for a loan 1.2 per centum curt of what was required past times the contract, as well as never at anytime specifically requesting the 75 per centum inwards guild to brand the deal, together alongside no asking for the additional amount subsequently the 73.98 per centum was approved, was sufficient evidence of lack of skillful faith.
- The judgment inwards favor of the farm management fellowship was affirmed.
CONCLUSION
The judgment of the trial courtroom granting summary judgment to the farm management fellowship was affirmed inwards the prospective purchasers' activity to recover their earnest money.
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