Contracts Keyed to Farnsworth
Mattei v. Hopper
ProfessorMelissa A. Hale
CaseCast™ – "What you need to know"
Mattei (P) was a real estate developer. P planned to construct a shopping center adjacent to land owned by Hopper (D). P entered into an agreement with D for the purchase of D’s land. The parties reduced the agreement to writing. Under the terms of the agreement, P was required to deposit $1,000 of the total purchase price of $57,500, and was given 120 days to examine the title and consummate the purchase. At the expiration of 120 days, the balance of the purchase price was due and payable upon tender of a good and sufficient deed of the property sold. The agreement was made subject to Coldwell Banker & Co. obtaining leases satisfactory to the purchaser. P paid the $1,000 deposit. While P was securing the leases, D notified P that D would not sell P the land under the terms of the agreement. Satisfactory leases were obtained and P offered to pay the balance of the purchase price. D failed to tender the deed. P alleged a breach of contract and brought an action for damages. Jud gment for D. P appealed.
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