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DELSACK v. CUMELLA

189 A.D.2d 640 (1993)

Craig S. Delsack et al., Respondents, v. George J. Cumella, Jr., et al., Appellants

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

January 14, 1993

Plaintiffs, as buyers, and defendants, as sellers, entered into an agreement involving the disposition of a condominium unit. The purchase price was $322,000, and a downpayment of $32,200 was held in escrow. Under the contract, the obligations of the purchasers were conditioned upon their procuring "a written commitment from any Institutional Lender pursuant to which such Institutional Lender agrees to make a loan to Purchaser ...

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