This case involved two cross-applications arising from a failed residential real estate transaction.
The buyers (Adusei and Gruenberg) sought relief from forfeiture of their $90,000 deposit, while the sellers (Ravindra and Manogaran) sought a declaration that the buyers breached the agreement of purchase and sale (APS), release of the deposit, and damages.
The court found that the buyers breached the APS and that the sellers were ready, willing, and able to close.
The buyers' argument that damages should be assessed at an earlier date due to anticipatory repudiation was rejected, as the sellers had affirmed the contract.
The court concluded that the sellers were entitled to the $90,000 deposit and an additional $110,000 in damages, representing the difference between the APS price and the property's market value on the closing date.
The buyers' application for relief from forfeiture was dismissed.