Thompson v. Meyers

The opinion of the court was delivered by This is an action to recover money alleged to be due under a written contract. The trial court entered judgment in favor of the plaintiff, L.V. Thompson, and the defendants, Meyers and Reust, have appealed. The parties will be designated either as plaintiffs and defendants, or by name. The defendants are real estate operators who, in the year 1966, were engaged in promoting a shopping area in Wyandotte County. In furtherance of this design they entered into a contract on May 2, 1966, with the Alta Investment Co. Inc., hereafter called Alta, for the purchase of a 33 acre tract of land at a price of $370,000, payable as follows: $7,000 on the signing of the contract, $8,000 on or before May 9, 1966, $12,775 on or before June 15, 1966, and the balance of $342,225 at the time of closing, which should be no later than August 1, 1966. We may conclude from the record that at this time the defendants were dickering with K-Mart for a lease of a portion of the proposed shopping center and were hoping to close the K-Mart deal prior to August 1, 1966.