Legal Opinion
Princes Point LLC v. Muss Development L.L.C.
Appellate Division of the Supreme Court of the State of New York
Decided February 4, 2016No. 601849/08 16045PublishedCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
Acosta, J.
The questions raised by this appeal are whether a prospective purchaser of real property anticipatorily breaches a contract of sale by commencing an action against the seller for rescission of the contract before the closing date, and whether, in the event of the buyer’s repudiation, the seller is required to show that it was ready, willing, and able to complete the sale (by obtaining certain government approvals as a condition precedent to closing) in order to retain the deposit and certain other payments as liquidated damages. We hold that, because a rescission…
2Cases cited23 opinions
- Auten v. AutenNew York Court of Appeals · 1954
- Truck Rent-A-Center, Inc. v. Puritan Farms 2nd, Inc.New York Court of Appeals · 1977
- American List Corp. v. U.S. News & World Report, Inc.New York Court of Appeals · 1989
- Zev v. MermanNew York Court of Appeals · 1988
- Norcon Power Partners, L.P. v. Niagara Mohawk Power Corp.New York Court of Appeals · 1998
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3Cited by2 opinions
- 41-45 Property Owner, LLC v. CDM1, LLCDistrict Court, S.D. New York · 2024
- Princes Point LLC v. Muss Development L.L.C.New York Court of Appeals · 2017