7 results for 'cat:"Real Estate" AND cat:"Damages" AND cat:"Contract"'.
J. Marbley grants the buyer's motion for judgment on the pleadings, ruling that its inability to obtain sufficient electrical power to supply the commercial property gave it a legitimate reason to terminate the contract prior to closing and allow it to recover the $300,000 in earnest money, which must be returned by the seller.
Court: USDC Southern District of Ohio, Judge: Marbley, Filed On: March 18, 2024, Case #: 2:22cv4280, NOS: Other Contract - Contract, Categories: real Estate, damages, contract
J. Goldberg affirms a lower court judgment ruling in favor of two would-be home buyers, finding the trial court properly awarded them the return of their $31,000 deposit. Contrary to the seller’s assertions, the buyers were ready, willing, and able to close on the sale and the seller is not entitled to the deposit because the seller breached the purchase and sales agreement for the property. Ample facts support the trial court’s decision. Affirmed
Court: Rhode Island Supreme Court, Judge: Goldberg, Filed On: January 16, 2024, Case #: 23-46, Categories: real Estate, damages, contract
J. Kapnick finds that the lower court improperly denied the purchaser prejudgment interest on its $626,000 downpayment on contracts of sale for three properties. The law specifying that the purchaser's "sole remedy" in the even of sellers' breach is the return of its downpayment does not preclude the award of interest at the statutory rate. Reversed.
Court: New York Appellate Divisions, Judge: Kapnick, Filed On: January 16, 2024, Case #: 00164, Categories: real Estate, damages, contract
J. Burns finds that the lower court properly granted the appellee real estate brokers' summary judgment motions in this lawsuit brought by a homeowner who allegedly entered into a listing agreement with the appellees but then decided not to sell her home. The evidence shows that the brokers earned a commission when the agent "procured the buyers, who were ready, willing, and able to buy the property" at an acceptable price. Also, the homeowner's alleged damages did not result from a breach of fiduciary duty by the appellees. Affirmed.
Court: Texas Courts of Appeals, Judge: Burns, Filed On: December 11, 2023, Case #: 05-22-01252-CV, Categories: real Estate, damages, contract
J. Casper partially allows a home purchasing couple's motion for monetary damages against the man from whom they bought their home. Specific performance and monetary damages can both be required and in this case monetary damages of $568,919 are required, "reflecting present value of additional interest over the 30-year life of the loan between 2.99% original rate and the 5.27% rate."
Court: USDC Massachusetts, Judge: Casper, Filed On: September 26, 2023, Case #: 1:21cv10815, NOS: Other Contract - Contract, Categories: real Estate, damages, contract
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J. Gleason denies the plaintiff company's motion for partial summary judgment in this breach of contract lawsuit involving the company's royalty interest in a gold mine. At issue is the mine owner's calculation of its construction investment. The plaintiff company "raised a new theory of damages after the close of all discovery." Accordingly, supplemental discovery will be permitted as to the "drafting parties' intent and understanding of the relevant contract provisions," and the plaintiff's partial summary judgment motion will be denied without prejudice.
Court: USDC Alaska, Judge: Gleason, Filed On: May 24, 2023, Case #: 1:21cv21, NOS: Other Contract - Contract, Categories: real Estate, damages, contract