Legal Opinion
Pearce, Urstadt, Mayer & Greer Realty Corp. v. Atrium Development Associates
New York Court of Appeals
Decided March 27, 1991PublishedCited by 9 opinions
1Opinion of the Court
*492OPINION OF THE COURT
Bellacosa, J.
Plaintiff Pearce, Urstadt, Mayer & Greer Realty Corp. (PUMG) procured a construction loan commitment for defendant Atrium Development Associates (Atrium) and now sues to recover its claimed brokerage commission. PUMG argues that Atrium’s abandonment of the entire development project and consequent failure to close on the loan commitment because it did not need the proceeds constituted a "willful default” within the meaning of the brokerage agreement between them and that this triggered PUMG’s entitlement to its quarter of a million dollar commission. We hold…
2Cases cited2 opinions
- Graff v. BilletNew York Court of Appeals · 1985
- Midland Mortgagee Corp. v. KazarnovskyAppellate Division of the Supreme Court of the State of New York · 1987
3Cited by9 opinions
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- Matter of RicondaNew York Court of Appeals · 1997
- EASTERN CONSOLIDATED PROPERTIES, INC. v. Adelaide Realty Corp.New York Court of Appeals · 2000
- Devine Real Estate, Inc. v. BrennanAppellate Division of the Supreme Court of the State of New York · 2007
- AngioDynamics, Inc. v. Biolitec, Inc.District Court, N.D. New York · 2009
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