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L.J.B. CORP. v. CITY OF NEW YORK

182 A.D.2d 485 (1992)

L.J.B. Corp. et al., Respondents-Appellants, v. City of New York et al., Appellants-Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

April 14, 1992

In February 1988, plaintiff Bonfiglio, the corporate plaintiff's assignor, bid successfully at public auction for a 1/2-acre vacant lot in the Parkchester section of the Bronx, at $605,000. A standard set of Terms and Conditions, applying to all sales of real estate at auction, gave the City the option to cancel the sale prior to closing, in which event the City's liability would be limited to return of payments made on the bid...

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