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Keywords

contractbreach of contractdamagesattorneyappealtrialnovation
contractbreach of contractdamagesattorneyappealtrial

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Goldman v. Olmstead, 414 S.W.3d 346

Facts

In August 2009, the Goldmans sought assistance from real estate agent Sandra Hewett to purchase a home from the Olmsteads. After executing a contract for the sale of the Stanford house, the Goldmans faced difficulties obtaining financing, leading them to terminate the contract. The Olmsteads subsequently sued the Goldmans for breach of contract, and the Goldmans filed third-party claims against Hewett for various alleged wrongdoings. The trial court ruled in favor of the Olmsteads, awarding them damages and attorney's fees.

In August 2009, the Goldmans sought assistance from real estate agent Sandra Hewett to purchase a home from the Olmsteads.

Issue

Did the Goldmans breach the contract for the purchase of the Stanford house, and were the Olmsteads entitled to damages and attorney's fees?

Did the Goldmans breach the contract for the purchase of the Stanford house, and were the Olmsteads entitled to damages and attorney's fees?

Rule

A contract is enforceable if it contains definite terms and is signed by the parties. A party may recover damages for breach of contract based on the actual losses incurred as a result of the breach.

A contract is enforceable if it contains definite terms and is signed by the parties.

Analysis

The court found that the Goldmans executed a valid contract and failed to close the sale, thus breaching the contract. The Olmsteads provided evidence of their damages, which included carrying costs incurred while the property was unsold. The court determined that the Goldmans' claims regarding the contract's enforceability and termination were without merit, as they did not provide timely notice of termination and failed to demonstrate a valid novation.

The court found that the Goldmans executed a valid contract and failed to close the sale, thus breaching the contract.

Conclusion

The Court of Appeals affirmed the trial court's judgment in favor of the Olmsteads for breach of contract, but reversed the award of carrying costs as damages and remanded for reconsideration of attorney fees.

The Court of Appeals affirmed the trial court's judgment in favor of the Olmsteads for breach of contract.

Who won?

The Olmsteads prevailed in the case because they successfully demonstrated that the Goldmans breached the contract and were entitled to damages.

The Olmsteads prevailed in the case because they successfully demonstrated that the Goldmans breached the contract.

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