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: Scottsdale Personal Injury LawyerMandatory Closing Provisions Strictly Enforced in Real Estate Purchase Contracts
By Geoff Trachtenberg
That hissing sound you hear is not just air coming out of the real estate bubble, it's the folks at Mining Investment Group, LLC ("MIG") who today learned the importance of a mandatory closing date where a contract specifies that "time is of the essence." The case, Mining Investment Group, LLC v. Roberts, shows just how strictly the courts will interpret real estate purchase contracts - indeed, what a difference a (business) day makes - where the contract includes a specific date for closing, a term that is currently quite common in many real estate purchase contracts.
Full post as published by Scottsdale Personal Injury Lawyer on March 11, 2008 (boomark / email).
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