The applicants agreed to purchase a property from the respondents, who subsequently breached the Agreement of Purchase and Sale by refusing to close.
The respondents argued that the Deposit Clause in the Agreement limited the applicants' remedy to the return of their deposit.
The court found that the Deposit Clause did not clearly and unambiguously waive the applicants' right to claim damages, but only precluded specific performance.
The court awarded the applicants $150,000 in damages, representing the difference between the agreed purchase price and the appraised value of the property at the time of the breach, relying on the applicants' appraisal evidence.
