Wigwam, Inc. v. Judice

SCHOTT, Judge.

On April 29, 1975, defendants signed an agreement to purchase real estate and other assets from plaintiff for $625,000. The agreement was on a standard real estate board form and provided that the act of sale was to be passed prior to July 1, 1975, and that upon acceptance of the offer by the vendor the purchasers would deposit with the vendor’s agent $10,000 cash and a demand note for $52,500. The agreement provided: “This offer remains binding and irrevocable through Monday, May 5, 1975.”

*565On May 2, 1975, the agreement was signed by the plaintiff’s president “subject to approval…