Schwartz v. Donnenberg

In this action for specific performance of a contract to sell real property, plaintiffs seek summary judgment.

*491Plaintiffs entered into an agreement to purchase a house owned by defendants. The contract was made conditional upon the plaintiffs obtaining a Federal Housing Administration (F. H. A.) mortgage. Plaintiffs were given 45 days in which to obtain all approvals necessary to obtain the mortgage and were to notify defendants to that effect within said 45 days; upon their failure to give such notice within the prescribed time defendants were given the sole option of canceling the contract…