K. Hovnanian Companies of New York Inc. v. JGM Associates

Casey, J. P.

Appeal (transferred to this court by order of the Appellate Division, Second Department) from a judgment of the Supreme Court (Owen, J.), entered June 19, 1990 in Orange County, which granted plaintiff’s motion for summary judgment.

In this action plaintiff seeks return of the $50,000 deposit being held in escrow pursuant to a real estate sales contract whereby plaintiff agreed to purchase certain real property from defendants JGM Associates and Joan G. Mulderig. The agreement contained a provision which authorized plaintiff to engage in certain activities to satisfy itself as to…