Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Real Property Law
Seller Entitled to Retain Breaching Buyer's Deposit Even if Breach Did Not Harm Seller Pizzurro v. Guarino
NYLJ 2/10/17, p. 32, col. 3
AppDiv, Second Dept.
(memorandum opinion)
In an action by seller against contract vendee to retain contract vendee's deposit, seller appealed from Supreme Court's grant of summary judgment to contract vendee. The Appellate Division modified, holding that seller is entitled to retain a breaching contract vendee's deposit even when seller has not been injured, but observing that in this case, questions of fact remained about whether contract vendee had breached.
When seller contracted to sell the subject property to contract vendee, the latter made a down payment of $30,000, which was less than 10% of the purchase price. The contract included a no liquidated damages provision. The parties never closed on the sale, and seller resold the property to another purchaser for a higher price. Seller then brought this action to retain the down payment. Supreme Court awarded summary judgment to contract vendee and directed seller to return the down payment. Seller appealed.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
The Cost of Making Partner
Making partner isn't cheap, and the cost is more than just the years of hard work and stress that associates put in as they reach for the brass ring.