Honolulu Federal Savings & Loan Ass'n v. Pao

*479OPINION OF THE COURT BY

TANAKA, J.

Maikailoa Ventures (MV), a Hawaii general partnership, the purchaser at a mortgage foreclosure sale, appeals the lower court’s order denying its motion to rescind the sale and forfeiting its $100,000 partial payment of the purchase price. We affirm.

The issues on appeal are (1) whether the lower court erred in holding that MV waived its right to rescind and agreed to the forfeiture and (2) whether the lower court abused its discretion in decreeing forfeiture of the entire $100,000. We answer no to both questions.

On January 11, 1978, plaintiff Honolulu Federal…