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GILMAN YACHT SALES, INC. v. FMB INVESTMENTS, INC.

No. 4D98-3635.

766 So.2d 294 (2000)

GILMAN YACHT SALES, INC., Appellant, v. FMB INVESTMENTS, INC.; LBB/Oceantide, Inc.; and Oviatt Marine, Inc. Appellees.

District Court of Appeal of Florida, Fourth District.

Opinion Corrected on Grant of Rehearing March 31, 2000.

Attorney(s) appearing for the Case

Robert L. Jennings and James B. Innes of Jennings & Valancy, P.A., Fort Lauderdale, for appellant.

Gregory G. Olsen and Paul M. Volmert of Morgan, Olsen & Olsen, Fort Lauderdale, for appellees FMB Investments, and LBB/Oceantide.

Ralph L. McGrath, Jr. of Vernis & Bowling of Fort Lauderdale, P.A., Fort Lauderdale, for appellee Oviatt Marine, Inc.

FARMER, J.

FMB Investments (seller) and Roger Triplett (buyer) entered into a contract for the sale of a yacht. Oviatt Marine Group, which held the listing, and Gilman Yacht Sales, which procured the buyer, participated as brokers in arranging the sale. Buyer failed to close within the time set by contract. As a result, seller and the two brokers took the deposit as liquidated damages under paragraph 7 of the contract which provides:

"In the event that closing...

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