Contracts—Conditions Precedent—Court Granted Seller’s Motion for Summary Judgment on Claim That Buyer Defaulted on Purchase Contract—Court Rejected Claim That Seller’s Attorney Had Orally Agreed to Hold Contract Until Buyer Determined Whether His Application for a Loan Was Granted—Contracts Need Not State That “No Conditions Precedent Exist Other Than Those Stated in the Agreement”
A TRIAL COURT had granted the plaintiff-seller’s motion for summary judgment against the defendant-purchaser. The Appellate Division affirmed. The purchaser had executed a written contract to purchase real property from the plaintiff. The purchaser personally met the seller’s attorney to deliver an executed contract and a down payment check. The purchaser alleged that the terms of the contract “were modified by an oral agreement” he made with the seller’s attorney during their meeting, i.e., the attorney allegedly agreed not to deposit the buyer’s down payment check ‘until further notice’ while the buyer awaited word on whether his application for a home equity line of credit was granted.” The purchaser had met with the seller’s attorney with the consent of the purchaser’s counsel.
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