COURT VOIDS TRIBECA SUMMIT CONDO PURCHASE WITH TOO MANY EXITS CRAIN’S NEW YORK BUSINESS

Court voids Tribeca Summit condo purchase with too many exits | Crain’s New York Business.


Interesting case voiding a contract because the court deemed a contract containing a unilateral, unrestricted right to cancel (by a Purchaser of a commercial condominium) unenforceable and illusory, as it lacks “mutuality of obligations”.

I don’t know if this ruling will survive on appeal.

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