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BOURLAND, HEFLIN, ALVAREZ, MINOR v. HEATON

No. W2011-01693-COA-R3-CV

393 S.W.3d 671 (2012)

BOURLAND, HEFLIN, ALVAREZ, MINOR & MATTHEWS, PLC v. Rodney HEATON and Margaret Heaton and Loeb Properties.

Court of Appeals of Tennessee, at Jackson.

April 9, 2012.

Application for Permission to Appeal Denied by Supreme Court August 20, 2012.

Attorney(s) appearing for the Case

Joseph C. Clark , Jonathan L. May , Memphis, Tennessee, for the appellant, Rodney Heaton and Margaret Heaton.

William M. Jeter , Memphis, Tennessee, for the appellee, Loeb Properties, Inc.

OPINION

ALAN E. HIGHERS, P.J., W.S., delivered the opinion of the Court, in which DAVID R. FARMER, J., and J. STEVEN STAFFORD, J., joined.

The parties entered into a Contract for the sale and purchase of commercial real estate, and the purchaser deposited $50,000.00 earnest money. The purchaser terminated the Contract, citing the economic downturn and the purchaser's resulting inability to secure retail tenants for its planned development. The parties disputed...

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