Bruyere v. Jade Realty Corp.
New Hampshire Supreme Court
375 A.2d 600 (1977)
Relevant factsFree
The Bruyeres (plaintiffs) secured financing for a property purchase contingent on a financing clause, but before closing they filed for divorce; the lender then revoked the financing after determining Mrs. Bruyere's income alone was insufficient, and she could not find alternative financing, causing the sale to fall through. The Bruyeres sued to recover their $1,000 deposit, and the district court ordered it returned; Jade Realty (defendant) appealed.
IssueFree
Whether a real estate buyer who obtains financing that is later revoked because of the buyer's own voluntary act bears the risk of the transaction's failure.