LOWERY INVESTMENTS v. STEPHENS INDUSTRIES

No. 85-438.

395 N.W.2d 850 (1986)

LOWERY INVESTMENTS CORP. and Richard Lowery, Appellants, v. STEPHENS INDUSTRIES, INC., Appellee.

Supreme Court of Iowa.

November 12, 1986.


Attorney(s) appearing for the Case

Robert A. Wright, Sr. of Wright, Wright & Borseth, Des Moines, and Dennis L. Eaton, Des Moines, for appellants.

William J. Lillis and Peter S. Cannon of Connolly, O'Malley, Lillis, Hansen & Olson, Des Moines, for appellee.

Considered by REYNOLDSON, C.J., and HARRIS, LARSON, SCHULTZ, and CARTER, JJ.


CARTER, Justice.

Plaintiffs appeal from a judgment for the defendant, Stephens Industries, Inc. (vendor corporation), in an action seeking to set aside the forfeiture of the vendee's interest under a contract for the sale of commercial real estate. The district court heard the case in equity and determined that the plaintiffs had failed to establish any basis for avoiding the forfeiture in accordance with the terms of the agreement. Because we find that the substantive...

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