News & Analysis as of

Breach of Contract Purchase and Sale Agreements

Vinson & Elkins LLP

Texas Business Court Quarterly Update – Q1 and Q2 2025

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As a part of Vinson & Elkins’ Texas Business Court Quarterly Update, the following update summarizes the Texas Business Court opinions—categorized by primary issue—that have been released since September 1, 2024 through the...more

Holland & Knight LLP

The Scope of "As-Is" Provisions in Your Vessel's Purchase and Sales Agreement

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An "as-is" provision in a purchase and sale agreement is a key component of said agreement. As such, litigation over the scope of this type of clause is noteworthy. While an ongoing dispute in the U.S. District Court for the...more

Blake, Cassels & Graydon LLP

La Cour d’appel de l’Ontario clarifie la clause d’option d’achat

L’affaire récente 1785192 Ontario Inc. v. Ontario H Limited Partnership, 2024 ONCA 775 (l’« affaire Ontario H Limited Partnership ») démontre qu’un acheteur qui omet de payer la totalité du prix d’achat fixé conformément à la...more

Blake, Cassels & Graydon LLP

Ontario Court of Appeal Clarifies Option-to-Purchase Clause

The recent case of 1785192 Ontario Inc. v. Ontario H Limited Partnership, 2024 ONCA 775 (Ontario H Limited Partnership) demonstrates that a purchaser who fails to tender the full purchase price required under an...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Sale of Industrial Facility/Environmental Assessment: Connecticut Court Addresses Whether Seller was Reasonable in Terminating...

The Superior Court of Connecticut (“Court”) in a December 20th Memorandum of Trial Decision (“Memorandum”) addressed an issue arising out of the proposed sale of an industrial facility. See Candor Capital LLC v. Leeder Realty...more

Gray Reed

A Day Made a Difference in This Purchase and Sale Agreement

Gray Reed on

And what a difference it was! In Apache Corp. v. Apollo Expl. LLC et al, Apache and others acquired an oil and gas lease on 100,000+ acres in the Texas Panhandle. The primary term was three years. The effective date was...more

Bennett Jones LLP

Seller Beware: Ontario Court of Appeal on Requirements to Exclude Statutory Warranties and Conditions

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The Ontario Court of Appeal recently released Pine Valley Enterprises Inc v Earthco Soil Mixtures Inc [Pine Valley], which reminds businesses that all sales of goods are subject to warranties and conditions under the Sale of...more

Stikeman Elliott LLP

“Commercially Reasonable Best Efforts”: B.C. Court Provides Guidance in Context of Purchase and Sale Contract

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In Sutter Hill Management Corporation v. Mpire Capital Corporation (Sutter), the British Columbia Court of Appeal found that the acquiror of an Abbotsford, B.C. care home had breached the purchase and sale agreement by...more

Fox Rothschild LLP

Del. Supreme Court Affirms Court of Chancery’s Decision in AB Stable

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The Delaware Supreme Court opinion in AB Stable VIII LLC v. MAPS Hotels and Resorts One, LLC, et al., No. 71, 2021, (Del. Dec. 8, 2021), considers whether a business’s response to the COVID-19 pandemic violated an “ordinary...more

Goulston & Storrs PC

Law of the Land - Real Estate Litigation Newsletter - September 2021, Volume I, Issue IX

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CASES OF NOTE - UPHILL BATTLE FOR RETAIL CANNABIS APPLICANTS  - Mederi, Inc. v. City of Salem, 488 Mass. 60 (2021) Summary: In Mederi, Inc. v. City of Salem, the Massachusetts Supreme Judicial Court grappled with...more

Bradley Arant Boult Cummings LLP

Liquidated Damages Clauses in Commercial Real Estate Contracts in Mississippi

Mississippi courts generally have found liquidated damages provisions in contracts for the sale and purchase of commercial real estate to be enforceable. The law in this area, however, is muddied by two factors. First, the...more

Foley & Lardner LLP

Empty Promises: Contractual Modification Without Consideration Leaves Franchisee Without Recourse

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Contractual deadline extensions are doled out as a matter of course—and as a matter of courtesy—every day. This is especially the case when the parties are involved in a long-term business relationship, which is frequently...more

McAfee & Taft

Liquidated Damages in Purchase and Sale Agreements: Oklahoma

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A buyer and seller of real estate will often include a liquidated damages provision in the purchase and sale agreement as a means for stipulating the amount of damages the seller will receive in the event of a breach of the...more

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