Mandle v. Owens

330 N.E.2d 362 (1975)

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Nature of the Case

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Facts

Mandle (P) offered their residence for sale. Owens (D) entered into an agreement to purchase the house for $30,000. D made an earnest money deposit in the amount of $300.00 on the house in the form of a check. The written contract entered into by the parties reads, in part, as follows: '... We hereby deposit with you earnest money in the sum of Three Hundred ($300.00) Dollars, to be applied as part of the purchase price for said real estate at the time of delivery of deed. ,,,,,If offer is accepted and we fail to complete the purchase of the real estate herein mentioned as provided herein, the amount of Three Hundred ($300.00) dollars will be forfeited to you.' On August 8, D informed P that he had decided not to proceed with the purchase of the house. P had cashed the earnest money check in the amount of $300.00 on August 1, 1972. P had paid $1,000 earnest money on another home and had made application for a loan thereon. The property was eventually sold for $29,500. A brokerage fee of $2,065 was paid the realtor. The Terre Haute property was refinanced and other expenses in the amount of $436.00 were incurred. P also claimed additional expenses for Motel $140.00, Telephone 15.00, and Interest on loan 150.17. P sued for damages and judgment was entered for D. P appealed.