True v. Lamarca

The opinion of the court was delivered by

BRODY, J.A.D.

Plaintiffs (purchasers) brought this action to recover $10,000, their deposit on the purchase of a single-family residence from defendants Charles and Virginia Lamarca (sellers). The sale was not consummated because by failing to sell their own home purchasers did not have the cash they needed to close and to satisfy a condition in their mortgage commitment. Purchasers had represented in the contract of sale that they had enough cash to close if they obtained the mortgage described in the mortgage contingency clause of the contract. That…