Just because real property is purchased as an investment, it doesn’t mean that monetary damages are adequate to compensate the buyer for the loss of the subject property and accompanying investment opportunity.Posted: Tuesday, February 26, 2008
Denial of specific performance as a remedy for seller’s breach of land sales contract was an abuse of discretion where seller failed to rebut presumption that damages were an inadequate remedy; evidence that similar properties had sold within a recent period was insufficient to establish that damages would be adequate to compensate buyer for the loss of the, and trial court erred in concluding that rule treating land as unique did not apply where primary purpose for buying land was as investment.
Real Estate Analytics, LLC v. Vallas
filed February 26, 2008, Fourth District, Div. One
Cite as 2008 SOS 1264
Full text click here

This entry was posted on Tuesday, May 6th, 2008 at 11:41 pm and is filed under Articles, Greater Los Angeles Area, Legal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.