Carl W. and Barbara H. Patterson - Page 12

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               At trial, petitioner alleged that Mr. Suiter should have               
          known that petitioner would be unable to obtain financing for the           
          purchase of Skylane Apartments.  Thus, petitioner alleged as a              
          basis for the recovery of the $55,000 amount that he was misled             
          by Mr. Suiter.                                                              
               We are not persuaded by petitioner's allegations regarding             
          being misled by Mr. Suiter.  First, an individual with 40 years             
          of experience in the commercial real estate market should be                
          familiar with the problems of obtaining real estate financing.              
          Moreover, petitioner testified at trial that he was aware of the            
          difficulties in obtaining financing specific to the real estate             
          market in Texas at the time that he signed the Earnest Money                
               There is no persuasive evidence in the record that supports            
          petitioner's allegation that he was misled by Mr. Suiter.  To the           
          contrary, the record contains direct evidence that petitioner was           
          motivated by his own sense of optimism to extend the Earnest                
          Money Contract.  Thus, when petitioner was unable to meet the               
          original closing date deadline of August 8, 1990, it was                    
          petitioner who requested an extension.  Also, in signing the                
          First Addendum, petitioner falsely represented that financing had           
          already been obtained.  When petitioner was unable to close the             
          transaction by October 19, 1990, petitioner again requested an              
          extension of the closing date.  At trial, petitioner testified              
          that he was motivated to extend the closing date deadline from              

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