Coons

Husband and wife, owners (herein sellers) of an unimproved parcel of hillside residential property (two lots) contracted by way of an executed realtor’s deposit receipt and executed escrow instructions to sell it to appellants husband and wife (herein buyers). Buyers refused to and did not purchase. Sellers assigned their claim for damages to respondent who sued thereon and recovered $20,000, the difference between the contract price and the established reasonable value of the two lots with interest from the date of contract. This appeal is from that judgment.

It is undisputed that one Cole, a licensed real estate salesman employed by one Lindsey, a licensed real estate broker, knew buyers who lived in Encino and had knowledge of the fact that buyers desired to sell their home in Encino. Cole phoned buyers in late December 1964 or early January 1965 and inquired if buyers were still interested in selling their *596 house. Buyers said yes and added that because of the arrival of a new baby, they were also interested in buying a new home. Cole testified “. . . [s]o I subsequently spent many, many hours looking for property. ...” He testified that intermittently between the time of…