Beard v. S/E JOINT VENTURE

RODOWSKY, Judge.

This case involves the measure of damages for the breach by vendors of a contract to construct a residence and then to convey the improved realty. The real estate market for the subject property was escalating during the potentially relevant period. Purchasers sought specific performance or damages. Specific performance became unavailable when the vendors rejected the contract in bankruptcy. We shall hold that the purchasers’ damages are not limited to certain out-of-pocket losses, as held by the courts below, but that the purchasers may also recover damages for loss of the…