City Centre One Associates v. Teachers Insurance & Annuity Assn. Of America

656 F. Supp. 658 (1987)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

Teachers (D) entered into a loan commitment agreement with Price which was subsequently assigned to City Centre (P) for the construction of an office building. The loan amount was $14.5 million. Each party claims that the other was unwilling to close the loan by April 1, 1986. P seeks a judgment declaring that the loan commitment was voidable at its election and D seeks specific performance.