Texacally Joint Venture v. Kathlene King

The Texacally Joint Venture, Richard L. Matz, Trustee, and Randy C. Rogers, Trustee, (Texacally) appeal from the judgment of the trial court granting Kathlene King, Trustee, specific performance of a contract to purchase a certain parcel of land. We will affirm the judgment of the trial court. In the original suit, King sought specific performance of a contract to purchase 123 acres of unimproved real property in Williamson County. The trial court denied specific performance because of King's purported failure to timely deposit a letter of credit with the escrow agent, as required by the contract. On appeal, we found that King had complied with the contract requirements, reversed the judgment of the trial court and remanded for entry of a decree of specific performance. King v. Texacally Joint Venture, et al., 690 S.W.2d 618 (Tex. App. 1985, writ ref'd n.r.e.).