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KIMBROUGH & CO. v. SCHMITT

939 S.W.2d 105 (1996)

KIMBROUGH & COMPANY, Plaintiff/Appellant, v. Lawrence SCHMITT, II, Defendant/Appellee.

Court of Appeals of Tennessee, Western Section at Jackson.

Permission to Appeal Denied December 23, 1996.

Attorney(s) appearing for the Case

Roger A. Stone, Stone, Higgs & Drexler, Richard E. Fulton, Memphis, for Appellant.

Raymon Sauer, for Appellee.

Permission to Appeal Denied by Supreme Court December 23, 1996.

HIGHERS, Judge.

The principal issue in this case is whether a liquidated damages provision in a contract for deed was properly struck down in the court below.

I. Facts

In 1988, Lawrence Schmitt, appellee, contracted to buy residential property located at 6511 Rocky Park in Memphis, Tennessee, from Kimbrough & Co. for $72,450.00. The terms of the contract provided that the...

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