(DOWNLOAD) "Patzman v. Marshall" by Arizona Supreme Court ~ eBook PDF Kindle ePub Free
eBook details
- Title: Patzman v. Marshall
- Author : Arizona Supreme Court
- Release Date : January 14, 1961
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 49 KB
Description
The plaintiff, Paul K. Marshall, contracted to purchase stock in the Bill Edel Motor Company, Inc., Tucson, Arizona, from defendant, Kenneth J. Patzman, and paid in the sum of $8,022.68 to Patzman as earnest money. Marshall then rescinded the contract and sued to recover his earnest money; Patzman filed a counter-claim for damages alleging Marshall had breached the contract to purchase the stock. The lower court awarded judgment to Patzman and gave him the $8,022.68 earnest money as his liquidated damages. The plaintiff, Marshall, appealed, and this Court, in the case of Marshall v. Patzman, 81 Ariz. 367, 306 P.2d 287, reversed the case holding that the liquidated damages were, in fact, an unreasonable penalty and remanded it back to the trial court with instructions to determine what damages, if any, resulted from plaintiffs breach of the contract.