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MIZUNA, LTD. v. CROSSLAND FEDERAL SAV. BANK

No. 642, Docket 95-7242.

90 F.3d 650 (1996)

MIZUNA, LTD., Plaintiff-Appellant, v. CROSSLAND FEDERAL SAVINGS BANK, aka Crossland Savings FSB, Defendant, Royal Realty Co., A Partnership, Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided July 25, 1996.

Attorney(s) appearing for the Case

David Arens, New York City, for Plaintiff-Appellant.

Bruce H. Lederman, Lederman, Abrahams & Lederman, Massapequa, N.Y., for Defendant-Appellee.

Before: ALTIMARI, JACOBS and CABRANES, Circuit Judges.

JACOBS, Circuit Judge:

Mizuna, Ltd. (as buyer) and Royal Realty Co. (as seller) signed a detailed, 18-page Purchase Agreement for the sale of commercial condominium units in a Manhattan apartment building. At the contract signing, Mizuna made a $100,000 down payment on the one million dollar purchase price, pursuant to the contract terms. The transaction never closed. Following an exchange of claims alleging breach of the...

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