Spoolan Realty Corp. v. Haebler

Findings were made at the trial concerning the facts in dispute. On the legal propositions involved, I hold as follows:

1. The agreement, providing for an advance by the seller to the purchaser on the construction by the latter of a building on the property sold, and for a consolidated first mortgage on the property, is more than the ordinary undertaking to make a loan for breach of which there is an adequate remedy at law.

The agreement, sought to be specifically enforced, is part and parcel of a contract for the sale of real estate, fully performed by the purchaser. The seller, who agreed to…