DiMarco v. Flannery (In Re Flannery)

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue at bench is which of two agreements of sale of a parcel of realty, entered into by a chapter XII debtor, we should approve. We conclude that, because the first agreement of sale did not provide that time was of the essence, the buyer thereunder fulfilled the conditions of that agreement even though he did not obtain a financial commitment until seven days after the date required by the agreement. Furthermore, we conclude that since the buyer under the second agreement of sale had notice, through his agent, of the first agreement of sale,…