Lowy was to purchase an apartment building from Pecora Developers. After entering into a purchase contract, the parties executed escrow instructions with Nash Escrow acting as closing agent. Both the contract and the instructions provided that Pecora was to complete a wall around the parking lot before closing could take place. On the day of closing, 30 feet of the wall had yet to be finished. Nash, upon urging and assurance from Pecora that the wall would be finished by day's end, closed the transaction. The wall was never completed and Lowy has brought suit against Nash. What result?

Question

​Lowy was to purchase an apartment building from Pecora Developers. After entering into a purchase contract, the parties executed escrow instructions with Nash Escrow acting as closing agent. Both the contract and the instructions provided that Pecora was to complete a wall around the parking lot before closing could take place. On the day of closing, 30 feet of the wall had yet to be finished. Nash, upon urging and assurance from Pecora that the wall would be finished by day's end, closed the transaction. The wall was never completed and Lowy has brought suit against Nash. What result?

Quizplus · Accepted Answer

The Answer of ​Lowy was to purchase an apartment building from Pecora Developers. After entering into a purchase contract, the parties executed escrow instructions with Nash Escrow acting as closing agent. Both the contract and the instructions provided that Pecora was to complete a wall around the parking lot before closing could take place. On the day of closing, 30 feet of the wall had yet to be finished. Nash, upon urging and assurance from Pecora that the wall would be finished by day's end, closed the transaction. The wall was never completed and Lowy has brought suit against Nash. What result?

​Lowy Was to Purchase an Apartment Building from Pecora Developers

Lowy Was to Purchase an Apartment Building from Pecora Developers