This case concerns an abortive real estate swap transaction where the plaintiff, Goldie Malka, and defendants, Florica and Jozsef Racz, each agreed to purchase the other's property.
The agreements, scheduled to close on November 16, 2020, failed to complete, with each party blaming the other.
Malka moved for summary judgment for the return of her $170,000 deposit, while the Raczs cross-moved for summary judgment for damages of $504,240.80.
The court found that both parties fundamentally breached the agreement on the closing date and neither took steps to restore time of the essence, leading to the agreement being treated as abandoned.
Consequently, the court granted Malka's claim for the deposit and dismissed the Raczs' counterclaim, with all judgments issued without costs.