Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Murray v. Barrett

The trial court erred in awarding pre-judgment interest at 12 percent, rather than the legal rate of 7 percent in accordance with O.C.G.A. § 7-4-2 a.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

On March 8, 1999, Philip Murray and Paul T. and Timothy N. Barrett entered into a Purchase and Sale Agreement regarding a parcel of land owned by Murray in Marietta Georgia. The purchase price for the property was $220,000, and in accordance with the agreement the Barretts paid $10,000 in earnest money. The agreement provided that purchase of the property was expressly contingent upon it being appraised at a fair market value “of at least the Purchase Price.”

In May, 1999, an appraisal conducted on the property indicated that the property had a value of $152,000, nearly $70,000 below the purchase price. As a result, the Barretts were unable to obtain financing to purchase the property. The Barretts subsequently wrote Murray regarding the appraisal and requesting the return of the $10,000 earnest money deposit. When Murray failed to return the deposit, this litigation ensued.

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
Southeastern Legal Awards 2025
May 01, 2025
Atlanta, GA

The Daily Report is honoring those attorneys and judges who have made a remarkable difference in the legal profession.


Learn More
Complex Claims & Litigation Forum 2025
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
Legalweek Leaders in Tech Law Awards 2025
March 24, 2025
New York, NY

Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.


Learn More
Go to Events Go to Webcasts
Senior Deputy District Counsel / Principal Deputy District Counsel

ABOUT THIS RECRUITMENTOur attorneys face some of the most challenging, cutting-edge legal issues in the environmental field. As such, we ar...


Apply Now ›
SENIOR VICE PRESIDENT FOR LEGAL AFFAIRS AND GENERAL COUNSEL

Hofstra University enrolls over 6,000 undergraduate students and nearly 4,000 graduate students in 13 schools, which feature a variety of de...


Apply Now ›
IP ASSOCIATE, PATENT AGENT, TECHNICAL SPECIALIST (Patent Prosecution) (multiple locations)

McCarter & English, LLP is actively seeking a patent associate, patent agent, or technical specialist for its Intellectual Property Prac...


Apply Now ›
Go to Lawjobs