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VALLEY PLACE v. T.I. EQUITY FUND (1995)

Nos. A00A1363, A00A1364.

541 S.E.2d 37 (2000)

246 Ga. App. 378

VALLEY PLACE, LTD. v. T.I. EQUITY FUND (1995), L.P. T.I. Equity Fund (1995), L.P. v. Valley Place, Ltd.

Court of Appeals of Georgia.

October 13, 2000.

Attorney(s) appearing for the Case

Gerry, Friend & Sapronov, William D. Friend, John W. Sandifer, Atlanta, for appellant.

Welch, Spell, Reemsnyder, Pless & Davis, Leroy P. Spell, Jr., Laura M. Lanzisera, Atlanta, for appellee.

MILLER, Judge.

Valley Place, Ltd. sued T.I. Equity Fund (1995), L.P. to recover the balance it claims was due on a promissory note for the sale of real estate. Valley Place agreed to sell T.I. an apartment complex consisting of 250 apartments. After the execution of the contract but before closing, the parties discovered that the property was zoned for only 244 apartments. The parties modified the warranties and representations section of the contract to include the...

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