Victor M. Metsch's blog
Did COVID Shutdown of Renovation Excuse Delay?
Hearing required to determine responsibility
Can Buyer of Building with Regulated Unit Back Out of Deal After HSTPA?
Legal blogs are "agog" with speculation as to the viability, during the pandemic, of force majeure and impossibility/frustration-of-performance defenses to obligations under leases, mortgages, and other real property contracts. A recent case examines the viability of those defenses in another context—a change in law.
On April 19, 2019, Malachite Servs., LLC agreed to purchase a building in Midtown Manhattan from 148-150 E. 28th St LLC for $6.668 million, with a down payment of $668,000 but no mortgage contingency clause.