General Investment & Development Co. v. Guardian Savings & Loan Ass'n

*155Opinion on Summary Judgment

HUGHES, District Judge.

1. Introduction.

Before the court is a purchase and sale agreement. The buyer has sued the seller for specific performance of the contract to purchase investment real estate from the repossessed real estate portfolio of a financial institution. Because the terms of the agreement protect the seller from the reasonable consequences of its actions, the buyer will take nothing.

2. Facts.

Guardian Savings & Loan Association owns three multi-family rental housing communities with over 1,300 apartments. Guardian contracted to sell the properties to…