The legal issues presented in this case will be displayed here.

This section contains the nature of the case and procedural background.

Robinson (D) owned land and Covington (P) agreed to buy that land for $2,010,675. International Farm (D1) acted as the agent in the sale. The contract was contingent on D getting a federal land bank loan for 75% of the purchase price. P put up $100,000 in earnest money. Upon default, the earnest money was to be divided equally between D and D1. Applications were submitted to two different counties for land bank loans because the land lay between them. The gross monies applied for was 73.98% of the land value, but when money for improvements was counted, it would be 80.81%. The applications were approved, and no effort was made to increase the amount of the loans by 1.02%. P then declined to close the deal. P sued D for the earnest money, and the trial judge found substantial compliance and that P had failed to make a good faith effort to close the transaction. Ds got the earnest money and P's appealed.

The court's holding and decision will be displayed here.

Legal analysis from Dean's Law Dictionary will be displayed here.