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SECURITY LAND CO., INC. v. TOULIATOS

716 S.W.2d 918 (1986)

SECURITY LAND COMPANY, INC., Plaintiff-Appellant, v. Plato TOULIATOS, Sarah Coley Touliatos, Francis Gassner, Herschel Crowley, Jr., Trustee; Edward G. Humphreys, Trustee; Mid-South Title Company, Inc., Trustee; Augusta Hooper, Kent Brough, Allen Kent McLean and Herman E. Jaehne, Defendants-Appellees.

Supreme Court of Tennessee, at Jackson.

July 28, 1986.

Attorney(s) appearing for the Case

William H. Fisher, III, Memphis, for plaintiff-appellant.

John C. Vergos, Memphis, for Plato and Sarah Touliatos, defendants-appellees.

Jef Feibelman, Memphis, for Kay Gassner, defendants-appellees.

MATHERNE, Special Justice.

The plaintiff sues for the specific performance of a contract to sell realty, or for damages due to the breach of the contract to sell.

I. Statement of the Case and Issues Raised.

In 1970, Plato Touliatos, Francis Gassner and Herman E. Jaehne purchased 377 acres of land. These parties and their respective wives executed deeds of trust conveying the land to secure purchase money notes. Later, Jaehne conveyed his interest...

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