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Lippman made a $20,000 down payment on a piece of real estate being offered for sale by Leo. The contract stipulated that the buyer would
Lippman made a $20,000 down payment on a piece of real estate being offered for sale by Leo. The contract stipulated that the buyer would be liable for damages in an amount equal to the down payment if the buyer failed to perform on the contract. Lippman refused to go through with the contract and demanded his down payment back. Leo, the seller, refused and counter claimed he was entitled to additional damages from the buyer because the damages that he had suffered were more than the amount of the down payment. If Lippman sues Leo, explain who shall prevail
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