The plaintiffs, a real estate agent and his wife, entered into an Agreement of Purchase and Sale to buy a property from the defendants after making a bully offer.
The plaintiffs later refused to close, alleging the listing agent fraudulently misrepresented the existence of competing offers.
The plaintiffs sued for rescission and punitive damages, and the vendors counterclaimed for breach of contract.
The court dismissed the plaintiffs' action, finding no viable claim for fraudulent misrepresentation or vicarious liability against the vendors.
The court allowed the vendors' counterclaim, finding the plaintiffs breached the contract, and awarded damages based on the difference between the contract price and the ultimate sale price in a falling market, plus carrying costs, less the deposit.
