LENT, Justice.
The narrow issue is whether the trial court erred in deciding that a forfeiture clause in an earnest money agreement was not a valid liquidated damages provision. We hold that there was no error in that respect. The broader question addressed in this opinion is how the validity of such clauses is to be tested.
Undisputed Facts
Defendants owned a 373 acre ranch, which they listed for sale in July, 1978. Plaintiff viewed the property...
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