Kelley v. Leucadia
Utah Supreme Court
846 P.2d 1238 (1992)
On March 2, 1987, William R. Kelley (plaintiff) paid a $10,000 earnest-money deposit to purchase a 13-acre property in Utah from First Security Bank (FSB), pursuant to an earnest-money sales agreement. After FSB discovered a boundary dispute, Kelley agreed several times to postpone the closing, but the dispute remained unresolved. Despite the dispute, Kelley tendered payment. However, FSB refused to complete the sale. Instead, FSB offered Kelley a release of his deposit, which Kelley refused to accept. Kelley sued FSB for specific performance, damages for breach of contract, and an abatement in the purchase price. The damages and abatement claims were settled. The trial court ruled that Kelley was entitled to specific performance and ordered FSB to convey the property. Kelley and FSB agreed to substitute Leucadia Financial Corporation (Leucadia) (defendant) for FSB, and Leucadia appealed. The court of appeals overturned the trial court’s decision, ruling that Kelley’s remedies under the earnest-money sales agreement precluded specific performance. Kelley appealed to the state supreme court.
Rule of Law
Holding and Reasoning (Stewart, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 724,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 724,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 45,600 briefs, keyed to 983 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.