The plaintiff vendor brought a motion for summary judgment against the defendant purchasers who failed to close on an agreement of purchase and sale for a residential property.
The defendants admitted liability but disputed damages and mitigation.
The court found no genuine issue for trial, holding that the plaintiff reasonably mitigated its damages by reselling the property in a falling market.
Summary judgment was granted to the plaintiff for $353,582.28, representing the loss of bargain and carrying costs, though the court declined to enforce a 20% contractual interest rate, finding it excessively onerous.
