Budget-Luxury Inn of Dayton, Ltd. v. Kamash Enterprises, Inc.

McMurray, Presiding Judge.

On June 20,1986, plaintiff Kamash Enterprises, Inc., and defendant Budget-Luxury Inn of Dayton, Ltd., executed a “letter of commitment” pursuant to which plaintiff agreed to purchase certain property from defendant for the sum of $900,000. The property was described as the “Admiral Benbow Hotel (excluding garage), 3rd and Jefferson Street, Dayton, Ohio.” The agreement provided that the closing was “contingent upon inspection and approval of the statements of accounts of the hotel and inspection and approval of the property itself within 14 days of the acceptance of…