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SOUTHEASTERN &c. v. REAL ESTATE &c.

31136.

237 Ga. 227 (1976)

227 S.E.2d 340

SOUTHEASTERN LAND FUND, INC. v. REAL ESTATE WORLD, INC.

Supreme Court of Georgia.

Decided July 9, 1976.

Attorney(s) appearing for the Case

Troutman, Sanders, Lockerman & Ashmore, John J. Dalton, J. Stanley Hawkins, for appellant.

Robinson, Harben, Armstrong & Millikan, Troy R. Millikan, for appellee.

INGRAM, Justice.

Certiorari was granted in this case1 for this court to consider whether a provision in a real estate sales contract, providing for the payment of earnest money, should be considered as a provision for liquidated damages. The Court of Appeals concluded this provision was a penalty and could not be enforced.

The litigation began when the seller filed suit against the buyer who defaulted under the contract. The buyer...

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