Commercial Law Keyed to Lopucki
Armstrong v. Csurilla
Appellants entered into two contracts to purchase real property from Calvin and Dorothy Armstrong, (Appellees). The contracts covered adjacent properties containing a service station with associated inventories and a residence. The total purchase price was $231,594. Appellants eventually defaulted. At the time of default, the gas station was closed, the property had deteriorated significantly in value, the inventory was depleted, and the service station was generally in poor condition. It never reopened as a service station. The court entered a judgment of foreclosure and a judicial sale took place. Appellees purchased both properties for $90,000. Appellants objected to confirmation of the sale on the grounds that the price was so low as to shock the conscience. However, the sale was confirmed.
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