SEARCH

Atlanta Dev. Inc. v. Emerald Capital Invs. LLC

A jury question remained as to the intended closing date on a real estate purchase and sale agreement.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Atlanta Development, Inc. AD and Emerald Capital Investments, LLC Emerald, two real estate developers, executed a purchase and sale agreement for certain real property. Each claims the other breached that agreement. According to AD, the closing was to occur on or before July 19, 2001 while Emerald says the closing date was July 19, 2001 or within 14 days of final approval of the exemption plat. Both companies sought summary judgment. Upon finding the date of closing was not ambiguous, the trial court granted partial summary judgment to Emerald. AD appeals. Because we find the contractual terms in dispute have ambiguity that cannot be resolved by applying the statutory rules for contract construction, we reverse.

On April 11, 2001, AD contracted with Emerald to purchase the real property located at 116 and 120 Mt. Paran Road, Atlanta, Georgia, for $1,364,000. AD planned to build four single-family homes at that location with each priced to sell in the range of $850,000. The contract required Emerald to install a private road and all utilities. It specified a closing date of June 15, 2001, and stated that “time is of the essence of this Agreement.” The contract contained five special stipulations and provided that these five special stipulations, “if conflicting with any other paragraph, shall control.” Special stipulation 1 provided:

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

From Data to Decisions

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Exclusive Depth and Reach.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

New York Legal Awards 2024

September 05, 2024
New York, NY

The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.

Learn More

African Legal Awards 2024

September 06, 2024
Johannesburg

The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.

Learn More

Consulting Best Firms to Work For 2024

September 12, 2024
New York, NY

Consulting Magazine identifies the best firms to work for in the consulting profession.

Learn More

Juvenile Dependency Attorney II/III/IV

RECRUITMENT BONUS Newly hired employees from this recruitment may be eligible to receive bonus payments up to $3,000!* FLEXIBLE SCHEDULE: ...

Apply Now ›

Litigation Counsel - Multiple Offices

Morristown, NJ; New York, NY Description: Fox Rothschild has an opening in multiple offices for a Counsel in our Litigation Department. The ...

Apply Now ›

Deputy Chief Attorney

The Forest Preserves of Cook CountyIs seeking applicants forDeputy Chief Attorney The Forest Preserves of Cook County is seeking a detail-o...

Apply Now ›

Lawyers of Distinction

06/27/2024
The American Lawyer

Professional Announcement

View Announcement ›

06/21/2024
Daily Business Review

Full Page Announcement

View Announcement ›