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THURSTON NAT. INS. CO. v. HAYS

No. 76-211.

544 S.W.2d 853 (1977)

THURSTON NATIONAL INSURANCE COMPANY, Appellant, v. Darrell K. HAYS and Joann Hays, Appellees.

Supreme Court of Arkansas, Division 2.

January 10, 1977.

Attorney(s) appearing for the Case

Putman, Davis & Bassett, Fayetteville, for appellant.

Creekmore & Harriman, Van Buren, for appellees.

HICKMAN, Justice.

On April 15, 1975 the Appellees signed an Offer and Acceptance Agreement to purchase two houses for a total of $20,000.00. The Offer was accepted on the same date. The Appellees made a down payment of $150.00, and the balance was to be paid in cash. The Agreement was silent as to the date the property was to be transferred. The Offer and Acceptance Agreement contained a clause that the risk of loss until the closing date was assumed by the seller...

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