Facey v. Desvarieux

The defendant seller and the plaintiff purchasers entered into a contract for the sale of a house on October 10, 1984. The contract was conditioned upon the purchasers obtaining a firm mortgage commitment from a lending institution within 60 days. If the mortgage could not be obtained within that time, without fault of the purchasers, then either party was permitted to cancel the contract by giving written notice to the attorney for the other party. In addition, the down payment would be returned. The mortgage contingency clause also provided that the contract could not be canceled after a…