Ner Tamid Congregation of N. Town v. Krivoruchko
638 F. Supp. 2d 913 | District Court, N.D. Illinois | 2009
Holding Summary
A buyer's failure to obtain financing does not excuse performance under impossibility doctrine where the contract contained no financing contingency clause, and the seller had no duty to mitigate by renegotiating terms or accepting a substantially lower price.
Commercial contracts knowingly entered into are binding obligations on both parties.
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