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David B. Saxe and Danielle C. Lesser write discuss 'Princes Point v. Muss Dev.', in which the Court of Appeals found that a prospective purchaser's commencement of an action seeking to rescind an amendment to a purchase agreement one month prior to the last day to close on the purchase did not constitute an unequivocal communication to the seller of the purchaser's intention not to perform. The result is a detour into an area of murky jurisprudence that may prove unsettling to the commercial bar that relies on the certainty of precedent and its application in a way that conforms to the realities of commercial practice.
January 02, 2018 at 02:35 PM
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