Legal Opinion
Woodbridge Place Apartments v. Washington Square Capital, Inc.
Court of Appeals for the Seventh Circuit
Decided June 8, 1992No. Nos. 91-1347, 91-1379PublishedCited by 21 opinions
1Opinion of the Court
HARLINGTON WOOD, Jr., Circuit Judge.
This controversy highlights the distinction between an option contract and a conditional bilateral contract, as well as breach and the failure of a condition precedent.
The lenders and borrower entered into an agreement where the lenders agreed to loan over 4.6 million dollars if certain conditions were satisfied on the date of closing. The loan never funded because some of these conditions were not satisfied. The borrower now asks this court to uphold the district court judgment requiring lenders to return the standby deposit that the borrower laid down…
2Cases cited28 opinions
- Salve Regina College v. RussellSupreme Court of the United States · 1991
- English Coal Co., Inc. v. DurcholzIndiana Court of Appeals · 1981
- Diginet, Incorporated v. Western Union Ats, Incorporated, Third-Party-Defendant-Appellant v. City of Chicago, Third-Party-Plaintiff-AppelleeCourt of Appeals for the Third Circuit · 1992
- Runnemede Owners, Inc., and Ranjit S. Ghura v. Crest Mortgage Corporation and Steven M. RaymanCourt of Appeals for the Seventh Circuit · 1988
- Western & Southern Life Insurance v. ValeIndiana Supreme Court · 1938
23 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Jos. Schlitz Brewing Company and the Stroh Brewery Company v. Milwaukee Brewery Workers' Pension Plan, Cross-AppelleeCourt of Appeals for the Seventh Circuit · 1993
- Erie Insurance Group v. Sear Corporation, Larry Bass, and Birch DaltonCourt of Appeals for the Seventh Circuit · 1996
- United Farm Bureau Mutual Insurance Company, Inc. v. Metropolitan Human Relations CommissionCourt of Appeals for the Seventh Circuit · 1994
- Rain v. Rolls-Royce Corp.Court of Appeals for the Seventh Circuit · 2010
- Bank of America, Illinois v. 203 North Lasalle Street PartnershipDistrict Court, N.D. Illinois · 1996
16 more not listed; retrieve them via the Exa API.