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VAN ES v. HONEYLOAF PROPERTIES, INC.

253 N.J. Super. 566 (1992)

602 A.2d 759

CHARLES T. VAN ES AND LYNN K. VAN ES, PLAINTIFFS-APPELLANTS, v. HONEYLEAF PROPERTIES, INC. AND K.G. HUNNEWELL, JR., INDIVIDUALLY, JOINTLY AND/OR SEVERALLY, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided February 4, 1992.

Attorney(s) appearing for the Case

Robert M. Mayerovic argued the cause for appellants.

Thomas A. Buonocore argued the cause for respondents (Bergamo, Buonocore & Trevisan, attorneys; Thomas A. Buonocore, on the brief).

Before Judges PRESSLER, SHEBELL and SKILLMAN.

The opinion of the court was delivered by SKILLMAN, J.A.D.

On or about August 26, 1989, plaintiffs entered into a contract of sale with defendant Honeyleaf Properties, Inc. (Honeyleaf) to purchase a one-family home for $375,000. As required by the contract, plaintiffs paid Honeyleaf a deposit of $56,250, representing 15% of the purchase price. The contract also contains a liquidated damages clause, which states:

It is agreed between Seller and Buyer that...

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