Perry

This is an action for damages for breach of an oral agreement of joint venture. After nonjury trial, plaintiffs had judgment. Defendants appeal.

Defendants had an option to purchase two lots. The trial court found that in a series of conversations the parties agreed that defendants would make the lots available for construction of two houses, obtain a construction loan, and arrange for sale of the houses; and plaintiffs would prepare plans and specifications in accordance with sketches drawn by defendants, assemble detailed cost estimates to facilitate financing, and supervise and effect construction of the houses. Half the profits were to go to plaintiffs and half to defendants. Over a period of somewhat more than three months, plaintiffs caused plans to be prepared, paid $132.40 to a draftsman, prepared detailed specifications, and secured bids from subcontractors. At the end of this time defendants advised, by letter, that they had accepted an offer for the lots, and thus terminated the “project.” Their stated reasons were that “we haven’t been able to get any definite commitment on financing,” that a number of homes were unsold in the neighborhood, and that “we were offered a…