The plaintiffs sued for specific performance of an abortive real estate transaction after failing to close on the scheduled date due to a loss of financing.
The defendants moved for summary judgment to dismiss the action.
The court found that the defendants did not agree to extend the closing date and were not acting in bad faith by insisting on the contractually agreed closing date.
The plaintiffs were not ready, willing, and able to close, and the defendants validly terminated the agreement and forfeited the deposit.
The motion for summary judgment was granted and the action dismissed.
