Court of Appeals of Oregon August 3, 1994, 90-8-306; CA A81203 (Schmidt v. Oregon Asphaltic Paving Co.)

EDMONDS, J.

Defendant appeals from a judgment for plaintiffs declaring the parties’ earnest money agreement null and void. ORS 28.020. We reverse.

On July 14, 1988, the parties signed an earnest money agreement wherein defendant agreed to purchase 177 acres of land from plaintiffs for $1,000,000.