Dileo v. Cadow

GAUDIN, Judge.

Appellant Roy Cadow and appellee Dr. Joseph DiLeo executed a contract whereby Dr. DiLeo was to purchase a residence situated at 3020 Tolmas Drive, Metairie, Louisiana, from Cadow. Following a judgment in Dr. DiLeo’s favor voiding the agreement because appellee was unable to borrow funds under terms and conditions recited in the contract, Cadow has taken this appeal.

The contract clearly states:

“This sale is conditioned upon the ability of the purchaser to borrow upon this property as security the sum of $85,900.00 by a mortgage loan or loans at a rate of interest not to exceed 9%…