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Partial summary judgment granted to vendor, dismissing purchasers' claim and forfeiting the deposit.
The defendant vendor moved for partial summary judgment in an action arising from a failed real estate transaction for a property and kennel business.
The plaintiff purchasers had refused to close the transaction, claiming the agreement was void because there was no meeting of the minds regarding a corporate share purchase.
The court found that the agreement was a valid, binding contract and that the plaintiffs had repudiated it because they lacked the necessary financing.
Consequently, the court dismissed the plaintiffs' action and ordered that their one-hundred-thousand-dollar deposit be forfeited to the defendant.
