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The Northgate Forest Property
During 1979, Parker learned of approximately 440 contiguous
acres of undeveloped land (the Northgate Forest property) in a
residential area on the northern outskirts of Houston, Harris
County, Texas. Parker retained Houston lawyer Martin Nathan
(Nathan) to assist him in the acquisition of the Northgate Forest
property. Acting at Parker's direction, Nathan executed two
earnest money contracts (the earnest money contracts) with
respect to the Northgate Forest property. Both contracts were
dated July 11, 1979. One contract was with respect to
approximately 362 acres, and provided for a purchase price of
$4 million and an earnest money payment to the American Title Co.
(American Title) of $20,000; the other was with respect to
approximately 75 acres, and provided for a purchase price of
$600,000 and an earnest money payment to American Title of
$10,000. Both contracts provided for seller financing and no
personal liability of the buyer. Both contracts showed as
purchaser "M. Nathan, his nominees or assigns". Parker delivered
to Nathan checks to be used to make the two earnest money
payments to American Title. Those checks were deposited into
Nathan's attorney trust account, and Nathan paid American Title
with checks drawn on that attorney trust account. When presented
for collection, Parker's checks to Nathan bounced (were
dishonored); Nathan's checks to American Title did not. A few
days later, Nathan told Parker that he (Nathan) wanted out of the
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Last modified: May 25, 2011