Court Opinion

ID: 9853996
Source: CourtListenerOpinion
Date Created: 2023-09-24 05:58:58.879364+00
Date Added: 2024-06-11T09:22:52.333302
License: Public Domain

Hill, Justice,
dissenting.
The rule is that in an action for specific performance of a contract to convey realty, the consideration must either be expressly stated by the writing itself or it must furnish a key by which the amount of the purchase price can be ascertained. Muller v. Cooper, 165 Ga. 439 (2) (141 SE 300) (1929); Sturdivant v. Walker, 202 Ga. 585 (4) (43 SE2d 527) (1947); Carroll v. Jones, 206 Ga. 332, 335 (57 SE2d 173) (1950). The majority in this case recognize the validity of this rule.
The majority find that "an MAI Appraisal” furnishes the key by which the amount of the purchase price can be ascertained. In this application of the rule I disagree.
Citing Carroll v. Jones, supra, the majority equate an appraisal by the Atlanta Real Estate Board with an MAI appraisal. The Atlanta Real Estate Board is an entity. An MAI is any member of a professional association of real estate appraisers. In my view, the two are not equivalent. Although an appraisal by the Atlanta Real Estate Board *669would furnish the key for determining the purchase price, the option in the case before us provides no agreement as to the price to be paid and no key by which the amount of the purchase price can be ascertained.
I am authorized to state that Justices Ingram and Hall join in this dissent.