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SHIRER v. O.W.S. & ASSOCIATES

18960

253 S.C. 232 (1969)

169 S.E.2d 621

Jesse D. SHIRER, Respondent, v. O.W.S. & ASSOCIATES, Inc., the Jefferson Standard Life Insurance Company, and Julian A. Ott, Defendants, Of Whom The Jefferson Standard Life Insurance Company is, Appellant.

Supreme Court of South Carolina.

September 15, 1969.

Attorney(s) appearing for the Case

Messrs. Roberts, Jennings & Thomas, of Columbia, F. Hall Yarborough, of Orangeburg, and Richard B. Hart, of counsel, of Greensboro, North Carolina, for Appellant, Jefferson Standard Life Insurance Company.

Messrs. Marshall B. Williams and Bryant & Fanning, of Orangeburg, for Respondent.

September 15, 1969.

BRAILSFORD, Justice.

This is an appeal by Jefferson Standard Life Insurance Company from a judgment against it for $21,600.00, the amount of a "liquidated damage deposit," retained by it upon the cancellation by O.W.S. & Associates, Inc., of a conditional acceptance of a mortgage loan commitment. This closely held corporation was organized for the purpose of constructing and operating a motel at Smithfield, North Carolina, under a Holiday...

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