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GEN. INV. & DEVELOPMENT v. GUARDIAN SAV. & LOAN

Civ. A. No. H-93-1597.

862 F.Supp. 153 (1994)

GENERAL INVESTMENT & DEVELOPMENT CO., et al., Plaintiffs, v. GUARDIAN SAVINGS AND LOAN ASSOCIATION, et al., Defendants.

United States District Court, S.D. Texas, Houston Division.

August 26, 1994.

Attorney(s) appearing for the Case

Alton F. Curry, Houston, TX, for plaintiffs.

Robin C. Gibbs, Houston, TX, for defendants.

OPINION ON SUMMARY JUDGMENT

HUGHES, District Judge.

1. Introduction.

Before the court is a purchase and sale agreement. The buyer has sued the seller for specific performance of the contract to purchase investment real estate from the repossessed real estate portfolio of a financial institution. Because the terms of the agreement protect the seller from the reasonable consequences of its actions...

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