Purchaser wrongfully refuses to go through with the purchase.
Broker seeks commission from Vendor.
If your client is the vendor, you must take great care in choosing your language in drafting a clause giving the vendor the right to forfeit the purchaser's earnest money as liquidated damages. A frequent mistake ' in the drafting of a contract for the sale of a business is the failure to allocate the sales price. Discuss the remedies of an omitted junior lienor. Assume that he has held the land for more than a year and that it qualifies for capital gain treatment. Discuss your answer.