Wallach v. Riverside Bank

206 N.Y. 434, 100 N.E. 50 (1912)

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Nature of the Case

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Facts

Riverside Bank (D) and Wallach (P) entered into a contract for the sale of real property. The sale was subject to 'existing restrictions of record if any,' and involved a quitclaim deed. At closing, D tendered the quitclaim deed, which P refused to accept because the wife of one of the earlier conveyors did not join in the conveyance. However, P tendered performance and offered to go through with the contract if D could tender 'marketable' title. D refused. P filed suit to recover his deposit money and the cost of his title search. The lower court found that P had objected to the quitclaim deed prior to the execution of the contract that the title was not marketable, and that P was entitled to recover. D appeals.