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BRUM REALTY, INC. v. TAKEDA

205 A.D.2d 365 (1994)

613 N.Y.S.2d 372

Brum Realty, Inc., Plaintiff, v. Howard M. Takeda et al., Defendants. (Action No. 1.) J. Max International Corp., Respondent, v. Masato Takeda et al., Appellants. (Action No. 2.)

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

June 16, 1994

J. Max International Corp. ("JMI"), plaintiff-respondent in consolidated Action No. 2, contracted to purchase a parcel of Manhattan realty from defendants-appellants Takeda for $2.3 million. The terms called for a down payment of $100,000 to be held in escrow by the sellers' attorney, defendant-appellant Brothers, with closing set for June 19, 1992. Standard provisions in the contract called for the Takedas to furnish insurable title, and gave them the right to adjourn the...

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