GSG Holdings, Inc. v. Multi Boro Realty Corp.

Order, Supreme Court, New York County (Walter Schackman, J.), entered May 22, 1996, which, in actions involving the enforceability of a contract for the purchase of shares in a cooperative housing corporation, inter alia, granted motions for summary judgment by the seller and the corporation dismissing the respective complaints, unanimously affirmed, with costs.

Paragraph 16 of the contract of sale authorizes the seller to cancel "[i]f Seller shall be unable to transfer the Lease and the Shares in accordance with this Contract for any reason not due to Seller’s willful acts or omissions”. The…