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FED. SHOPPING WAY, INC. v. O.K. INS. AGENCY, INC.

No. 40004.

78 Wn.2d 903 (1971)

481 P.2d 5

FEDERAL SHOPPING WAY, INC., Appellant, v. O.K. INSURANCE AGENCY, INC., et al., Respondents.

The Supreme Court of Washington, En Banc.

February 11, 1971.

Attorney(s) appearing for the Case

Wallace B. Hager (of Hager & Young), Lisle R. Guernsey (of Howe, Davis, Riese & Jones), Daniel B. Ritter, and Allen D. Clark, for appellant.

Dore, Dubuar, Cummins & Badley, David C. Cummins, Fred H. Dore, and Orvin H. Messegee, for respondents.

FINLEY, J.

In 1961 the appellant, Federal Shopping Way, Inc., entered into a real estate contract as purchaser with the Pezzellas as sellers. The contract purchase price was $160,000, of which appellant tendered $12,000 as a down-payment, and agreed to pay the remainder in monthly installments of $1,500 at 6 per cent interest. Property development was an important part of appellant's business. Acquisition of the property involved in this case was for the purpose of...

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