Lowy was to purchase an apartment building from Pecora ...

[Zoey63294]

Lowy was to purchase an apartment building from Pecora Developers. After entering into a purchase contract, the parties executed escrow instructions with Nash Escrow acting as closing agent. Both the contract and the instructions provided that Pecora was to complete a wall around the parking lot before closing could take place. On the day of closing, 30 feet of the wall had yet to be finished. Nash, upon urging and assurance from Pecora that the wall would be finished by day's end, closed the transaction. The wall was never completed and Lowy has brought suit against Nash. What result?

Question 2

Lance has just purchased a home for 220,000 in a quiet subdivision of Dallas. Lance soon discovers that his neighbors have two sons, ages 16 and 18, who have car stereos and a significant number of friends. Each evening as the boys return home, their stereos are quite loud and the bass vibrations cause the windows in Lance's home to shake. Their returns are generally between midnight and 2:00 a.m., and Lance is losing sleep. He is quite irritable and not performing at his peak at work. Lance's neighbors are similarly disturbed by the boys' activities. What, if anything, can they do?

[Anton]

Answer to Question 1

Nash has breached its fiduciary duty and its duty to follow instructions. Nash will have to pay for construction of the wall.

Answer to Question 2

This is a nuisance case in which the balancing tests are easy. The boys can turn down (or off) the stereos as they approach home and solve the problem.

[Zoey63294]

Correct answers!

[Anton]

Great! Please up vote