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MANDLE v. OWENS

No. 976S280.

353 N.E.2d 465 (1976)

William Dee MANDLE and Eileen L. Mandle, Appellants (Plaintiffs below), v. H. Joseph OWENS and Kathryn J. Owens, Appellees (Defendants below).

Supreme Court of Indiana, In Banc.

Transfer Denied September 1, 1976.

Attorney(s) appearing for the Case

Norman L. Lowery, Rosenfeld, Wolfe, Frey & Lowery, Terre Haute, for appellant.

Myrl O. Wilkinson, Dix, Patrick, Ratcliffe & Adamson, Terre Haute, for appellees.

OPINION ON DENIAL OF TRANSFER

HUNTER, Justice (dissenting).

I dissent to the denial of transfer in this case. It is my belief that the Court of Appeals erred in its determination that the "earnest money" provision in the sales contract between the Mandles and Owenses was a penalty clause rather than an agreement upon liquidated damages.

The term "earnest money" comes to us from the civil law and is defined: "[a] sum of money which one of the contracting...

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