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Contracts Keyed to Kuney
Centex Home Corp. v. Boag
Citation:
128 N.J. Super. 385, 320 A.2d 194 (1974).Facts
In the 1970s, Centex was building a luxury high-rise condominium project that consisted of six 31-story buildings with over 3,600 condominium apartment units, recreational buildings, parking garages, and other elements. On September 13, 1972, the Boags entered into a purchase agreement for unit No. 2019 of Winston Towers 200. The building was still under construction. The purchase price of the unit was $73,700. The Boags gave Centex a deposit of $525 and later sent a check for $6,870 totaling 10% of the purchase price. Mr. Boag was informed shortly thereafter that his employer was transferring him to Chicago, Illinois. On September 27, 1972, Boag advised Centex he was unable to complete the purchase and stopped payment on the $6,870 check. Two weeks later, Centex attempted to deposit the check.
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