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COLONIAL AT LYNNFIELD, INC. v. SLOAN

Nos. 88-1825, 88-1826.

870 F.2d 761 (1989)

COLONIAL AT LYNNFIELD, INC., Plaintiff, Appellee, v. Stephen SLOAN, et al., Defendants, Appellees. Appeal of Richard D. ZIPES, et al., Defendants, Appellants. COLONIAL AT LYNNFIELD, INC., Plaintiff, Appellee, v. Stephen SLOAN, et al., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided March 21, 1989.

Attorney(s) appearing for the Case

Ripley E. Hastings with whom Harvey Weiner, Alexander H. Pratt, Jr., Peabody & Arnold, George E. Richardson and Johnson, Clapp, Stone & Jones, Boston, Mass., were on brief, for defendants, appellants.

Marilyn D. Stempler with whom Brown, Rudnick, Freed & Gesmer, Boston, Mass., was on brief, for plaintiff, appellee.

Before COFFIN, BOWNES and SELYA, Circuit Judges.

COFFIN, Circuit Judge.

This case arises out of a failed contract for the purchase of a 49% interest in the Colonial Hilton Inn in the towns of Lynnfield and Wakefield, Massachusetts. The seller, Colonial at Lynnfield, Inc. (Colonial), sued the prospective buyer, Colonial Associates (Associates),1 for breach of contract and liquidated damages in the amount of $200,000. The district court found that the buyer was at fault, and held that...

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