Clyde Bldg. Ass'n v. Walsh

Plaintiff-contractor appeals from a judgment in favor of defendant in an action for damages for breach of a contract under which plaintiff agreed to build a fourplex on defendant’s property. Defendant subsequently refused to proceed with the contract on the ground that an adequate construction loan could not be obtained and that this was a condition precedent to the effectiveness of the contract.

On April 1, 1963 defendant accepted plaintiff’s bid of $67,252.73. On May 8, 1963 defendant advised plaintiff by letter of the difficulties he was having in obtaining the loan and that with “so many…