Contracts Keyed to Knapp
American Standard, Inc. v. Schectman
The Plaintiff, American Standard, Inc. (Plaintiff) and the Defendant, Schectman (Defendant), entered into a contract whereby the Plaintiff agreed to convey its buildings and equipment to Defendant. In return, the Defendant was to render payment and remove the equipment, demolish the structures and grade the land as specified. The Defendant failed to grade the property as agreed upon in the contract. The cost to complete the grading was estimated by the Plaintiff’s expert as $110,500. The Defendant argued that this amounted to a windfall and that the correct measure of damages ought to be the diminution in value of the property, resulting from his lack of performance. The lower court rendered a jury verdict for the Plaintiff, in the amount of $90,000, based on the cost of completing the grading.
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