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KRUPNICK v. GUERRIERO

247 N.J. Super. 373 (1990)

589 A.2d 620

JACK KRUPNICK, PLAINTIFF-APPELLANT, CROSS-RESPONDENT, v. MICHAEL J. GUERRIERO, WILLIAM PENNISI, DEFENDANTS-RESPONDENTS, CROSS-APPELLANTS, AND BROKERS 3 REALTY, JERSEY SHORE REALTORS AND ESSJAY REALTY ASSOCIATES, DEFENDANTS.

Superior Court of New Jersey, Appellate Division.

Decided December 31, 1990.

Attorney(s) appearing for the Case

Abraham M. Penzer, attorney for appellant, cross-respondent (Steven L. Rothman, on the brief).

McCarthy & Schatzman, attorneys for respondents, cross-appellants, (Jill Frankel Ray, of counsel and on the brief).

Defendants Brokers 3 Realtors, Jersey Shore Realtors and Essjay Associates did not participate in the appeal.

Before Judges ASHBEY and LANDAU.

The opinion of the court was delivered by ASHBEY, J.A.D.

Plaintiff (seller) Jack Krupnick, a real estate developer, agreed to sell a 13.40 acre parcel in Lakewood to defendants (buyers) Michael Guerriero and William Pennisi. Under the contract the seller was to obtain many governmental approvals prior to closing. The agreement also called for the buyers to make a $300,000 deposit on the $1,100,000 purchase price, which

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