Hiatt (P), entered into two contracts with Yergin (D). In one contract, P agreed to sell their interest in a liquor distributorship to D. In the other contract, D agreed to resell the interest to P if P was unable to obtain a federal permit and approval of the Alcoholic Beverage Commission for P's new operation. P claims that the first contract had been performed along with the conditions precedent to the second contract. D refused to reconvey the interest. P sued and sought $500,000 in damages for the withholding of stock, an accounting, and specific performance of the second contract. P's demand for a jury trial was denied. The court found that P had not used due diligence in attempting to obtain the permit and entered judgment against P. P appealed.

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