Nature of the Case
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Facts
Meyer (P) made a deal to buy Benko's (D) home. D was in a hurry to sell and accepted P's $23,500 offer. The listing was at $24,950. D believed the property was worth $29,000-$30,000 but signed the listing to get rid of the property in a hurry. D then refused to sell the house. P sued for specific performance. The trial court denied specific performance because it found that the deposit receipt did not constitute a contract and the price was inadequate. P appealed; the contract had been formed, and the price was adequate under the circumstances of the sale.
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