Firm client, B&W Land Co., LLC secured a judgment in its favor after a bench trial in the Circuit Court of Mobile County, Alabama. At issue was whether the prospective buyer followed the requirements of the Purchase/Sale Contract in the manner and timing of notice to terminate the agreement during the due diligence period. The Buyer claimed it was entitled to a return of the earnest monies because regardless of any deficiencies in its notice, B&W had actual notice of its intent to terminate the contract within the due diligence period. B&W argued that because the agreement was an option contract, Alabama law required strict compliance with the manner and timing of the contract requirements in giving notice, which the Buyer did not follow.
Stephen Burrow successfully tried the case on behalf of B&W.
Posted on
Thu, April 1, 2010
by Heidelberg Steinberger