On a summary judgment motion arising from a failed real estate transaction, the court held that the purchaser breached an unconditional agreement of purchase and sale by failing to close.
Alleged misrepresentations concerning the feasibility of underground parking did not raise a genuine issue requiring a trial because the evidence showed any assurances came from the purchaser's own agent, not the vendor.
The court held the $100,000 payment was a true deposit, not merely part payment of the purchase price, and was therefore forfeitable upon the purchaser's default.
Relief from forfeiture was denied because the deposit, amounting to 6.67% of the purchase price, was not unconscionable.
Summary judgment was granted and the brokerage was ordered to release the deposit to the vendor.
