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TAYLOR v. SANDERS

Record No. 840017.

353 S.E.2d 745 (1987)

Jeremy W. TAYLOR v. Jack M. SANDERS, et al.

Supreme Court of Virginia.

March 6, 1987.

Attorney(s) appearing for the Case

Richard R. Saunders, Jr., Hanes, Sevilla, Saunders & McCahill, P.C., Leesburg, on brief, for appellant. Appellant submitting on brief.

No brief or argument for appellee.

Present: All the Justices.

COMPTON, Justice.

In this action at law upon a promissory note, the dispositive question is whether the instrument was enforceable as representing liquidated damages or whether the note was invalid because it constituted a penalty.

Appellant Jeremy W. Taylor, the plaintiff below, agreed to sell and appellees Jack M. Sanders and Barbara C. Sanders, the defendants below, agreed to purchase a house and lot in Loudoun County for $63,-900. On November 27, 1981...

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