Is Earnest Money condition precedent to valid contract?

[Rexlan]

What is the name of your state? Georgia

I had a buyer for property and a written contract. The Earnest Money Agreements provided for the payment of $10,000 down with the balance at closing. Agreement stipulated that I, seller, was entitled to retain the earnest money in the event the buyer did not purchase. This was a simple liquidated damages clause with no other conditions.

All parties signed the agreement and the buyer gave me a check for the $10K. There are no other conditions to the contract …. Just a price and date to close.

The buyers check turned out to be NSF and he subsequently did not purchase. I sent demand for payment of the check …. He ignored. I have now filed suit for specific performance and a claim for the $10K if specific performance is not granted.

Defendants attorney says that the contract is void because the buyer never tendered good funds for the earnest money. He states that that was a “condition precedent’ to the formation of a valid contract. I say that is bunk …. Contract was made verbally and memorialized in writhing. Further, tendering of the stated earnest money is not a condition of the contract.

Question becomes … is the tender of the stated earnest money a condition precedent to the formation of a valid contract?

Thanks

 

[HomeGuru]

What is the name of your state? Georgia

I had a buyer for property and a written contract. The Earnest Money Agreements provided for the payment of $10,000 down with the balance at closing. Agreement stipulated that I, seller, was entitled to retain the earnest money in the event the buyer did not purchase. This was a simple liquidated damages clause with no other conditions.

All parties signed the agreement and the buyer gave me a check for the $10K. There are no other conditions to the contract …. Just a price and date to close.

The buyers check turned out to be NSF and he subsequently did not purchase. I sent demand for payment of the check …. He ignored. I have now filed suit for specific performance and a claim for the $10K if specific performance is not granted.

Defendants attorney says that the contract is void because the buyer never tendered good funds for the earnest money. He states that that was a “condition precedent’ to the formation of a valid contract. I say that is bunk …. Contract was made verbally and memorialized in writhing. Further, tendering of the stated earnest money is not a condition of the contract.

Question becomes … is the tender of the stated earnest money a condition precedent to the formation of a valid contract?

Thanks

**A: drop it and move on. Or take your poorly written contract to the attorney that you should have consulted prior to your signing it.

 

[Rexlan]

**A: drop it and move on. Or take your poorly written contract to the attorney that you should have consulted prior to your signing it.

That is a pretty stupid comment. But then it was you wasn't it.

Why do you waste your time and others with your "BS"

If you don't understand simple contracts then perhaps you should read up on them. That way when you open your mouth you won't look like a jerk. Of course, if you kept it closed in the first place none of us would know you were an idiot.

Have a nice day .... lol

 

[HomeGuru]

That is a pretty stupid comment. But then it was you wasn't it.

Why do you waste your time and others with your "BS"

If you don't understand simple contracts then perhaps you should read up on them. That way when you open your mouth you won't look like a jerk. Of course, if you kept it closed in the first place none of us would know you were an idiot.

Have a nice day .... lol

**A: someone please tell us where these idiots come from? I thought this writer was stuffed and cooked yesterday.

 

[Rexlan]

**A: someone please tell us where these idiots come from? I thought this writer was stuffed and cooked yesterday.

**A: You are an idiot, I think

**B: Your are a moron, I think

**C: What kink of dirt bag makes 47,000 posts and
has nothing to say? har, har, har

**D: Get yourself together and get a life .... lol

**E: I assume you can read past **A: ... lol

**F: GO to **A: har, har, har ..... lol