Wolf v. Cohen

After the sellers (defendants) defaulted on a $1,000,000 real estate sale, the buyer's assignee Wolf (plaintiff) obtained a court order for specific performance, but the conveyance was delayed over two years, during which the property's value rose to $1,445,000. Wolf claimed he had separately contracted to resell the property for $1,800,000, but that buyer withdrew because of the delay, and sought $355,000 in additional damages — the gap between the lost $1,800,000 resale and the $1,445,000 value he actually received. The district court denied this additional claim.

Whether the measure of damages for a breach of contract of sale is the difference between the contract price and the fair market value of the property.