A trial court had granted plaintiffs’ motion for summary judgment on their conversion claim. The Appellate Division (“court”) held that since the subject funds had been paid to the landlord “in contemplation of a lease that never became effective, summary judgment was properly granted….”

The court explained that the landlord lacked a right to the subject $96,000 since the lease was never “signed and delivered by both Landlord and Tenant, as required for it to bind the parties.” The court noted that “[n]one of the versions of the lease in the record are signed by the plaintiffs. The fact that various exhibits to the lease were signed by plaintiffs or its guarantors is of no moment. Communications suggesting that plaintiffs had signed or would sign the lease did not change the fact that no signed lease was ever delivered….; nor did plaintiffs ever receive keys, take possession of the premises, or pay rent….”

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