Toll Bros. Inc. v. Township of Readington et al., No. 06-1053; Third Circuit; opinion by Chagares, U.S.C.J.; filed February 4, 2009. Before Judges Scirica, Fuentes and Chagares. On appeal from the District of New Jersey. [Sat below: Judge Brown.] DDS No. 26-8-2716 [14 pp.]
Appellant Toll Brothers Inc., a residential developer, entered into an option contract with Readington Properties, L.L.C., the owner of a 160-acre tract of land in Readington Township, in which it was granted an exclusive option to buy the tract at a fixed price. In exchange, it promised to make periodic payments to Readington Properties during the option period.
