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F.B. TRANSIT RD. CORP. v. DRT CONSTR. CO., INC.

241 A.D.2d 930 (1997)

661 N.Y.S.2d 367

F.B. Transit Road Corporation, Respondent, v. DRT Construction Company, Inc., Individually and as Partner in ACP/DRT Partnership, Appellant, and W.R.S.B. Development Company, L. L. C., Intervenor-Appellant. (Action No. 1.) F.B. Transit Road Corporation, Respondent, v. W.R.S.B. Development Company, L. L. C., et al., Appellants. (Action No. 2.) (Appeal No. 2.)

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

July 3, 1997

Order unanimously reversed on the law with costs, cross motion granted and amended complaints dismissed.

Memorandum:

Plaintiff entered into a contract to purchase commercial real estate from defendant DRT Construction Company, Inc. (DRT). The contract provided for a 60-day due diligence period during which plaintiff could terminate the contract without penalty upon notice to DRT. Following several extensions of that period, plaintiff exercised its right to...

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