Madaline Realty Corp. v. Kadel

Headnote

Vendor and purchaser — contract for sale of real property — action to recover for breach.

Madaline Realty Corpn. v. Kadel, 206 App. Div. 663 , affirmed.

Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered May 18, 1923, affirming a judgment in favor of defendant entered upon a dismissal of the complaint by the court at a Trial Term without a jury. The action was to recover damages for the alleged breach of a contract to sell real estate. It was alleged that defendant agreed to buy in the property at the foreclosure sale in an action brought by his wife to foreclose a mortgage thereon held by her, the price which he was to bid to be at least the amount of the selling price of the property to the plaintiffs, to wit, $105,000, and, if the property brought more than such sum, to pay to the plaintiffs

the excess, whereupon the contract would be canceled. Before the sale the owner of the equity of redemption notified the mortgagee that an assignment of said mortgage would be required. Thereafter the assignment was made, and although the foreclosure proceedings continued defendant claimed that he was no longer obliged to bid in the property and notified plaintiff that he would be unable to perform and offered to return the deposit upon their releasing him from liability.