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LAKE v. HERMES ASSOCIATES

No. 14291.

552 P.2d 126 (1976)

Alta Faye Walker LAKE and Lynn Alvin Lake, Plaintiffs and Appellants, v. HERMES ASSOCIATES, a partnership, Defendant and Respondent.

Supreme Court of Utah.

July 9, 1976.

Attorney(s) appearing for the Case

Frank J. Allen, of Clyde & Pratt, Salt Lake City, for appellants.

Nick J. Colessides, Salt Lake City, for respondent.

CROCKETT, Justice:

Plaintiffs, Alta Faye Lake and Lynn Alvin Lake, sued for breach of contracts by which defendant Hermes Associates agreed to purchase their 1/9 interest each in property near 7200 South and Ninth East in Salt Lake City to be used in developing a shopping mall. Defendant's position was that the terms of the contract called for $10,000 each as the purchase price; whereas, the plaintiffs contend that the contract tied the purchase price to any pro rata...

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