Contracts—Landlord’s Attorney Invoked Attorney-Client Privilege and Refused to Answer Whether He Was Authorized to Sign a Settlement Agreement—Attorney May Have Lacked Actual Authority, But He Had Apparent Authority—Agreement Contained Essential Terms Necessary For A Complete Contract for the Sale of Real Property—Where Contract Is Silent to Terms of Financing, Purchaser Obligated to Tender Entire Balance Due At Closing—Seller Usually Bears Risk that Property Value Will Increase or Decrease During Contract Period—Increase In Value During the Contract Period Does Not Create Injustice or Inequity—Laches and Abandonment Arguments Rejected—Specific Performance Premature Since Plaintiff Failed to Substantiate Ability to Close—Tortious Interference With Contract—Conspiracy—Prima Facie Tort
The plaintiff (tenant) had commenced an action “to compel specific performance of a lease option to purchase real property.” The defendant (landlord) had moved for summary judgment. In 2002, the tenant signed a 10-year lease for the property that was to be used as a gas station and convenience store. The lease granted the tenant an option to purchase the property (option). The option provided for an appraisal process to determine the fair market value.
