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KELLEY v. LEUCADIA FINANCIAL CORP.

No. 900187.

846 P.2d 1238 (1992)

William R. KELLEY, Jr., Plaintiff and Petitioner, v. LEUCADIA FINANCIAL CORPORATION, a Delaware corporation, Defendant and Respondent.

Supreme Court of Utah.

Rehearing Denied February 10, 1993.

Attorney(s) appearing for the Case

David R. Olsen, Charles P. Sampson, and Paul M. Simmons, Salt Lake City, for plaintiff.

John A. Snow and Kathryn H. Snedaker, Salt Lake City, for Leucadia Financial Corp.

R. Paul Van Dam and David W. Lund, Salt Lake City, for Dept. of Commerce.

D. Frank Wilkins, Salt Lake City and David W. Johnson, Park City, for amicus Utah Ass'n of Realtors.

STEWART, Justice:

This case presents the issue of whether a buyer of real estate can obtain specific performance of a standard Utah Earnest Money Sales Agreement against a defaulting seller.

First Security Bank (FSB) agreed to sell real property to William R. Kelley pursuant to a standard Earnest Money Sales Agreement.1 FSB could not provide marketable and insurable title because of a boundary dispute. Kelley filed an action for...

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