Jong Yuan Chien v. Realty

OPINION OF THE COURT

Patricia P. Satterfield, J.

Plaintiff, Jong Yuan Chien, commenced this action to recover the $6,000 down payment made to defendant, Tova Realty, toward the purchase of shares in a cooperative, a sale that was not consummated because of plaintiff’s inability to secure financing. Pursuant to the liquidated damages clause of the subscription agreement executed between the parties, *711defendant counterclaims for $6,000 in damages and seeks $2,000 in attorney’s fees. Because shares in a cooperative are personalty and thus goods as defined in article 2 of the Uniform Commercial Code…