Walsh v. Catalano

Walsh and Marks (plaintiffs) contracted to buy Catalano's (defendant) property under terms requiring Catalano to refund their down payment if they could not obtain an institutional lender's loan commitment; after they secured a commitment contingent on satisfactory appraisal, Hurricane Sandy struck and damaged the property, causing the subsequent appraisal to show reduced value and prompting the lender to withdraw its commitment. The buyers sued for their down payment, and the trial court denied their summary judgment motion, prompting appeal.