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ELBT REALTY, LLC v. MINEOLA GARDEN CITY CO., LTD.

2014-09061, Index No. 601316/14.

144 A.D.3d 1083 (2016)

2016 NY Slip Op 08042

42 N.Y.S.3d 304

ELBT REALTY, LLC, Respondent, v. MINEOLA GARDEN CITY CO., LTD., Appellant.

Appellate Division of the Supreme Court of New York, Second Department.

Decided November 30, 2016.

Ordered that the order is affirmed insofar as appealed from, with costs.

The plaintiff (hereinafter the purchaser) and the defendant (hereinafter the seller) entered into a contract for the sale of a commercial building. In connection with the contract, the purchaser made a down payment in the amount of $120,000, which was held in escrow by the seller's attorney. Section 3.01 of the contract provided that if the purchaser "in its sole discretion, determinates that...

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