Wolf v. Cohen

379 F.2d 477 (D.C. Cir. 1967)

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Nature of the Case

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Facts

Parkwood entered into a contract to sell property to Butler for $1,000,000. Thereafter Parkwood conveyed the property to the Cohens subject to Butler’s rights under his contract of purchase. Butler, in turn, assigned his rights under the contract to Lovitz. It is clear from the facts of the case that Lovitz was the straw party for the real parties in interest Wolf et al. On December 4, 1962, the date for settlement of the contract, the Cohens and Parkwood defaulted. Cross-motions for summary judgment were filed and on December 13, 1963, and judgment was entered holding that there had been no anticipatory breach of contract on August 31, 1962, and specific performance was decreed against Cohens and Parkwood. The case was then set for trial to determine damages. Wolf et al. was denominated as plaintiffs (P) and Cohen and Parkwood as defendants (D). Motions for summary judgment were filed on the issue of damages. Ps claimed that they were entitled to $355,000 based on the fact that the purchase price was $1,000,000 but that prior to settlement they had contracted to sell the property for $1,800,000 but because of the delay of performance by D their prospective purchaser has withdrawn as he had the right to do under that contract. It appears without contradiction that the market value of the property was $1,000,000 on the contract settlement date of August 31, 1962, and that the market value was $1,445,000 on the date when the sale was finally completed in 1965. Ps claim the difference between that market value on final settlement and their original resale price of $1,800,000. The District Court held that Ps were not entitled to receive damages for the delay in settlement and were not entitled to attorney’s fees. This appeal resulted.