Plaintiffs commenced this action in September 1990 seeking to compel specific performance of the parties' contract for the sale of a 3.36-acre parcel of land (hereinafter the land) owned by defendants. The contract was executed on or about October 21, 1988 and was made contingent upon plaintiffs securing all government approvals, permits and licenses required for construction and operation of a college fraternity residence on the land. The...
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