Legal Opinion
Friend v. McGarry
New York Supreme Court
Decided September 19, 1988PublishedCited by 4 opinions
1Opinion of the Court
OPINION OF THE COURT
David B. Saxe, J.
This dispute raises important and far-ranging questions in the area of cooperative apartment sales. In all likelihood, it arose as a result of the current "soft” resale market for cooperative apartments. The first question raised is whether the standard loan contingency clause, which makes the purchaser’s obligation to buy subject to obtaining a loan commitment, is satisfied by a loan commitment which is conditioned upon the purchaser’s sale of his current residence. Secondly, when the purchaser’s obligation to buy is made subject to the closing of the…
2Cases cited14 opinions
- M. O'Neil Supply Co. v. Petroleum Heat & Power Co.New York Court of Appeals · 1939
- Cooper v. BosseAppellate Division of the Supreme Court of the State of New York · 1981
- Lusker v. TannenAppellate Division of the Supreme Court of the State of New York · 1982
- Levine v. SarbelloAppellate Division of the Supreme Court of the State of New York · 1985
- River View Associates v. Sheraton Corp. of AmericaAppellate Division of the Supreme Court of the State of New York · 1969
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3Cited by4 opinions
- Chaplick ex rel. Canal Vista Trust v. Jeng Fen MaoDistrict Court, D. Maryland · 2016
- Price v. BartkowiakDistrict Court, S.D. New York · 1989
- Heilig v. Maron-AmesCivil Court of the City of New York · 2009
- Steven G. Walther, Inc. v. TarantoAppellate Division of the Supreme Court of the State of New York · 2005