Cochran v. Norkunas

Prospective buyers (plaintiffs) and seller Norkunas (defendant) signed a one-page letter of intent setting a $162,000 purchase price and other terms, with the buyers paying a $5,000 deposit; the letter referenced, in three of its five paragraphs, a standard Maryland Realtors Contract to be delivered within 48 hours. The buyers sent that contract, but Norkunas never communicated acceptance and, about a week later, took the property off the market; the buyers sued for breach, the trial court granted them summary judgment, the court of special appeals reversed, and the Court of Appeals granted certiorari.