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LI EQUITY NETWORK v. VILLAGE

2009-02318.

79 A.D.3d 26 (2010)

910 N.Y.S.2d 97

LI EQUITY NETWORK, LLC, Respondent, v. VILLAGE IN THE WOODS OWNERS CORP., Appellant, et al., Defendant.

Appellate Division of the Supreme Court of New York, Second Department.

Decided October 19, 2010.

Attorney(s) appearing for the Case

Havkins Rosenfeld Ritzert & Varriale, LLP, New York City ( Jarett L. Warner of counsel), for appellant.

Windels Marx Lane & Mittendorf, LLP, New York City ( Michael H. Resnikoff of counsel), for respondent.

FISHER, J.P., LEVENTHAL and SGROI, JJ., concur.

OPINION OF THE COURT

BELEN, J.

When the plaintiff, LI Equity Network, LLC, a limited liability company, purchased shares allocated to one of the cooperative units of the defendant Village in the Woods Owners Corp. (hereinafter the defendant) at a nonjudicial foreclosure sale, the plaintiff's representative agreed to an independent auctioneer's "Terms of Sale." These "Terms of Sale" allegedly bound prospective purchasers to the provisions in the defendant...

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