The plaintiff purchaser brought an action for damages against the defendant vendor for breach of an amended Agreement of Purchase and Sale for a 45-acre development property.
The vendor had repudiated the contract, claiming the purchaser failed to pay a $400,000 deposit.
The court found that the amended agreement implicitly removed the deposit requirement, meaning the vendor's repudiation constituted an anticipatory breach.
The court held that the purchaser was ready, willing, and able to close, and was not required to tender given the vendor's clear repudiation.
The court rejected the vendor's argument that the purchaser failed to mitigate, finding the property was unique and no comparable properties were available.
The court awarded the purchaser $11,122,345.27 in damages for lost expected profits, relying on the plaintiff's expert planner.