Two real estate developers prevailed in a lawsuit against the owner/seller of a commercial real estate property in the District of Columbia’s DuPont Circle neighborhood. Our firm represented the developers in successfully obtaining a jury verdict to enforce the purchase contract for the property.
The contract contained a purchase price adjustment provision based on the square footage of the property. After signing the contract, the seller refused to close due to a $2 million reduction in price pursuant to the contract. The seller then filed a 182-paragraph counterclaim against the developers, alleging fraud, fraud in the inducement, fraudulent misrepresentation, negligent misrepresentation, constructive fraud, ambiguity, mutual mistake, unilateral mistake, and a number of other grounds to rescind the contract.
After an eight-day jury trial, the judge granted a directed verdict in our client’s favor and dismissed the seller’s counterclaims. The following day, we obtained a unanimous jury verdict in our client’s favor on our claim to enforce the contract.
