Real Estate/Development
Apr. 28, 2011
Recovering Lost Profits In Real Estate Transactions
The court of appeals in Greenwich S.F., LLC v. Wong (190 Cal.App.4th 739 (2010) recently addressed for the first time the issue of whether lost profits may be recovered by a real estate buyer for the seller's breach of contract. By Sean Ponist of Peterson, Martin & Reynolds LLP.
The court of appeals in Greenwich S.F., LLC v. Wong (190 Cal.App.4th 739 (2010) recently addressed for the first time the issue of whether lost profits may be recovered by a real estate buyer for the seller's breach of contract.
In addressing this issue, the appellate court determined that a buyer may be entitled to lost profits when the seller backs out of deal, but warned that in order to recover lost profits, the profits sought can...
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