M. Jay Carter v. Ernie Cline and Karen Cline

Summary

The court held that the real-estate contract made Carter’s ability to obtain financing a condition precedent, and that the condition was not satisfied because his conditional loan approval was withdrawn after a material decline in his income. Because the condition failed, Carter had no contractual obligation to close, and the circuit court should have granted judgment notwithstanding the verdict in his favor. The court also upheld the Rule 54(b) certification of the Clines’ judgment as final and appealable.