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Commercial Law Keyed to Lopucki
Williams v. Ubaldo
Facts
Petitioner entered into a contract for the sale of Respondents home in the amount of $450,000. Petitioner was unable to qualify for a mortgage loan and after several months Respondents filed suit for specific performance and an award of the $10,000 deposit. Before trial, Respondents sold their home for $430,000. The trial court found in favor of Respondents, calculating damages based on the difference between the contract price and the resale price. In addition the court assessed $3,500 for real estate taxes paid by Respondents between the time of breach and resale and $500 in connection with snow removal.
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