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Centex Homes Corp. v. Boag

Law Dictionary
CASE BRIEFS

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Citation. 22 Ill.128 N.J. Super. 385, 320 A.2d 194 (Super. Ct. Ch. Div. 1974)

Brief Fact Summary. On September 13, 1972, Defendants Mr. & Mrs. Eugene Boag decided to purchase a condominium from Plaintiff Centex Homes Corp. for $73,700, by first paying a deposit of $525 and by then tendering a check for the down payment of $6,870. Then, on September 27, 1972, Boag, upon learning he was to be transferred to Chicago, wrote and advised Centex that he “would be unable to complete the purchase” agreement and stopped payment on the check for $6,870. Centex deposited the check for collection approximately two weeks after the letter from the Defendant Boag, but the check was not honored.

Synopsis of Rule of Law. The remedy of specific performance should no longer (in this jurisdiction) be automatically available to a vendor of real estate, but should be confined to those special instances where a vendor will otherwise suffer an economic injury for which his damage remedy at law will not be adequate, or where other equitable considerations require that the relief be granted.


Facts. On September 13, 1972, Defendants Mr. & Mrs. Eugene Boag decided to purchase a condominium from Plaintiff Centex Homes Corp. for $73,700, by first paying a deposit of $525 and by then tendering a check for the down payment of $6,870. Then, on September 27, 1972, Boag, upon learning he was to be transferred to Chicago, wrote and advised Centex that he “would be unable to complete the purchase” agreement and stopped payment on the check for $6,870. Centex deposited the check for collection approximately two weeks after the letter from the Defendant Boag, but the check was not honored. On August 8, 1973, Plaintiff Centex instituted this action for specific performance of the purchase agreement or, in the alternative, for liquidated damages in the amount of $6,870. Centex made a motion for summary judgment, upon which this Court will rule.

Issue. Does the equitable remedy of specific performance lie for the enforcement of a contract for the sale of a condominium apartment?

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