Cochran v. Norkunas
Court of Appeals of Maryland
919 A.2d 700 (2007)
Robert and Hope Grove (plaintiffs) and Robert and Rebecca Cochran (plaintiffs) entered into negotiations to purchase a parcel of real estate from Eileen Norkunas (defendant). The Groves, the Cochrans, and Norkunas entered into a letter of intent that established a purchase price of $162,000, along with several other terms. The Groves and the Cochrans paid Norkunas $5,000 by check when the letter of intent was signed. The letter of intent was a single page and made several references to a standard form contract, called the Maryland Realtors Contract, that was to be delivered within 48 hours. The Groves and the Cochrans sent over the contract, but Norkunas did not communicate her acceptance of the terms. Approximately one week later, Norkunas removed the parcel from the market. The Groves and the Cochrans sued Norkunas for breach of contract. The trial court granted summary judgment to the Groves and the Cochrans, and Norkunas appealed to the court of special appeals, which reversed. The Court of Appeals of Maryland granted certiorari.
Rule of Law
Holding and Reasoning (Raker, J.)
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