DiDonato v. Reliance Standard Life Ins. Co.
Supreme Court of Pennsylvania
249 A.2d 327 (1969)
Relevant factsFree
A zoning amendment restricting DiDonato's (plaintiff's) property from industrial to residential use took effect between signing the purchase agreement and the October 1965 closing with Reliance (defendant), unbeknownst to either party at the time; DiDonato discovered the change only in 1967 when he tried to sell the property and sued to rescind the contract, but the trial court ruled for Reliance.
IssueFree
Whether the purchaser of real estate bears the risk of loss or injury occurring during the period between execution of the purchase agreement and the closing.