Commercial Law Keyed to Lopucki
Dills v. Town of Enfield
Plaintiff sued Defendant to recover the deposit he paid to Defendant under the option and contract for the sale of land. Plaintiff, at the time of the making of the contract, paid a $100,000.00 deposit toward the contract price of $985,900.00. The trial court rendered judgment for the Defendant and Plaintiff appealed. The Neecon Corporation (Plaintiff), owned by Dills, was to perform the necessary work. Plaintiff was unable to obtain financing and so he failed to submit construction plans. Thereafter both parties tried to invoke the contract’s termination clause. Plaintiff terminated the contract based on his inability to obtain the financing within the time specified by the contract. The trial court held that unless there was impracticability in preparing and submitting the construction plans rather than for obtaining financing there was no basis for excuse.
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