Johnston v. Curtis

The Curtises agreed to sell their home to the Johnstons for $114,000, contingent on the Johnstons obtaining a $102,600 loan; after the Johnstons' loan was denied due to a lower appraisal, the parties orally agreed to lower the price to $110,000, and the Johnstons took possession and gave a $500 good-faith check before ultimately refusing to close. The Curtises then sold the home elsewhere for a net $94,000 and sued the Johnstons for breach; the trial court found the oral price modification enforceable, held the Johnstons breached, and awarded the Curtises $10,000 in damages.