Petitioners entered into a written real estate contract in which they agreed to purchase a marina owned by respondent sellers. Petitioners deposited $60,000 (10% of the purchase price) with the sellers' attorney.
Petitioners allegedly canceled the real estate contract by letter, due to their purported inability to obtain a mortgage. However, the sellers assert that the letter and the petitioners' subsequent actions did not terminate the contract but, instead, extended...
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