Gottlaub v. Cohen

The defendants move to strike the bill of complaint because it states no equitable cause of action. Complainants agreed to buy, and defendants to sell, certain real estate for $21,000. The agreement contains this provision:

"This contract is made subject to the parties of the second part obtaining a mortgage of $18,000 in the form of a G.I. loan * * *. In the event the aforesaid mortgage in the sum of $18,000 is not secured by the parties of the second part or a commitment obtained for the same by September 3, 1946, then this agreement shall be null and void, and the deposit herein paid shall…