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Sweatt v. International Dev. Corp.

The arbitrator overstepped his authority when he awarded damages to the sellers in excess of the buyers' earnest money since the construction contract specifically provided that the seller could recover only the earnest money as liquidated damages.

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Would-be home buyers W. David Sweatt and Alicia P. Sweatt filed suit against International Development Corporation “IDC” and Christopher J. Bruns.1 The Sweatts alleged that IDC and Bruns breached a real property purchase and construction agreement for a house being built for them by Bruns. IDC and Bruns counterclaimed for breach of contract and specific performance, and the Sweatts filed a lis pendens against the property. The Sweatts asked the court to order arbitration of all the controversies and claims arising from the purchase agreement or any alleged breach of it. The trial court ordered the parties to complete binding arbitration.

Before arbitration was concluded, both sides agreed to a consent order recognizing that IDC and Bruns had entered into a purchase and sale agreement for the property at issue with a third party and requiring IDC and Bruns to deposit the net proceeds of that sale into the registry of the court. IDC and Bruns subsequently sold the property for $373,000, or about $8,000 more than the contract price of $365,900 with the Sweatts. After payoff of the construction loan and payment of a real estate commission, the net proceeds realized by that sale, $89,017.77, were deposited into the registry of the court.

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