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KOTCHMAN v. FIELD

No. 82-31.

425 So.2d 560 (1982)

John W. KOTCHMAN and Shirley A. Kotchman, His Wife, Appellants, v. Martin W. FIELD, Appellee.

District Court of Appeal of Florida, Second District.

Rehearing Denied January 21, 1983.

Attorney(s) appearing for the Case

Gerald R. Colen of DeVito & Colen, P.A., St. Petersburg, for appellants.

James J. Rowan of McCutcheon & Rowan, St. Petersburg, and Leslie D. Franklin of Leslie D. Franklin, P.A., St. Petersburg, for appellee.

GRIMES, Acting Chief Judge.

This appeal involves the fallout resulting from an aborted land sales contract.

Martin Field contracted to purchase land in Pinellas County for $5,250,000 from John and Shirley Kotchman. The contract called for an earnest money deposit of $50,000 to be placed in escrow. At closing, the Kotchmans would receive $1,200,000 in cash plus a mortgage of $4,000,000. Closing was set for January 15, 1981. The contract allowed Field the option...

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