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Contracts Keyed to Fuller
Mattei v. Hopper
Citation:
51 Cal.2d 119, 330 P.2d 625 (1958)Facts
Peter Mattei, a real estate developer, was planning to construct a shopping center on a tract adjacent to Amelia Hopper’s land. After several rejected proposals, Hopper submitted an offer which Mattei accepted. Their agreement was documented in a deposit receipt form, with Mattei required to deposit $1,000 of the $57,500 purchase price and given 120 days to “examine the title and consummate the purchase.” The agreement included a clause stating: “Subject to Coldwell Banker & Company obtaining leases satisfactory to the purchaser.” This clause was included to allow Mattei to arrange satisfactory leases for the shopping center before committing to the full purchase. Mattei made the initial deposit, but while he was in the process of securing leases and before the 120-day period elapsed, Hopper notified him that she would not sell under the terms of the deposit receipt. After Mattei informed Hopper that satisfactory leases had been obtained and offered to pay the balance, Hopper still refused to tender the deed as provided in the agreement.
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