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SPRING CREEK HOLDING COMPANY, INC. v. SHINNIHON U.S.A. CO., LTD.

943 A.2d 881 (2008)

399 N.J. Super. 158

SPRING CREEK HOLDING COMPANY, INC., Plaintiff-Appellant v. SHINNIHON U.S.A. CO., LTD., Defendant-Respondent.

Superior Court of New Jersey, Appellate Division.

Decided March 27, 2008.

Attorney(s) appearing for the Case

Ben H. Harris, III (Miller, Hamilton, Snider & Odom, L.L.C.) of the Alabama bar, admitted pro hac vice, Mobile, AL, argued the cause for appellant (Edward A. Stein, attorney, Hackensack; Mr. Stein and Mr. Harris, on the brief).

Steven M. Richman, Princeton, argued the cause for respondent (Duane Morris, LLP, attorneys; Mr. Richman, of counsel and on the brief; Jonathan L. Swichar, on the brief, Philadelphia, PA).

Before Judges CUFF, LISA and LIHOTZ.

The opinion of the court was delivered by

LISA, J.A.D.

This appeal implicates the right of a seller of real estate to declare the buyer in material breach and terminate the agreement of sale based upon the seller's assertion that it reasonably believed the buyer would not perform, it demanded adequate assurance of performance from the buyer, and the buyer failed to provide such assurance. The seller, Shinnihon U.S.A. Co., Ltd. (Shinnihon) took this action...

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