The court properly denied Louzon's motion, since he did not perform at the scheduled closing, thereby defaulting under the clear terms of sale that he had agreed to. Under these clear terms, plaintiff made no representations or warranties with respect to the marketability and insurability of title, or to existing mortgages on the property, and Louzon was required to pay the balance of the purchase price on the closing date or forfeit his deposit.
Although, on the...
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