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LIBERTY LIFE INSURANCE COMPANY v. THOMAS B. HARTLEY CONSTRUCTION COMPANY INC.

46093.

258 Ga. 808 (1989)

375 S.E.2d 222

LIBERTY LIFE INSURANCE COMPANY v. THOMAS B. HARTLEY CONSTRUCTION COMPANY, INC.

Supreme Court of Georgia.

Decided January 19, 1989.

Attorney(s) appearing for the Case

Fortune & White, John A. Howard, for appellant.

W. Courtney La Fon, Beverley J. Hall, for appellee.

MARSHALL, Chief Justice.

Thomas B. Hartley Construction Co., Inc., as buyer, sued Liberty Life Insurance Co., as seller, to recover a $37,000 earnest-money payment it had made to Liberty Life contemporaneously with the execution of a real-estate sales contract. The seller declined to return any portion of the payment (which was about 10% of the purchase price) in reliance on the following contractual provision:

In the event buyer elects not to close this...

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