Citibank v. Sahakian

Appellate Division of the Supreme Court of New York

Citibank v. Sahakian

225 A.D.2d 333, 638 N.Y.2d 911, 638 N.Y.S.2d 911, 1996 N.Y. App. Div. LEXIS 2098

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMarch 7, 1996

StatusPublished

This text of 225 A.D.2d 333 (Citibank v. Sahakian) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Citibank v. Sahakian, 225 A.D.2d 333, 638 N.Y.2d 911, 638 N.Y.S.2d 911, 1996 N.Y. App. Div. LEXIS 2098 (N.Y. Ct. App. 1996).

Pincite

Opinion

Although time was not made of the essence, the referee of sale found appellant in default for failure to close. The terms of sale, which a principal of appellant signed, and to which it was, therefore, bound, granted the referee discretion to grant an adjournment of the closing, which it did on one occasion, and to direct a new foreclosure sale in the event of noncompliance with the terms of sale. The terms of sale also [334]*334provided for the forfeiture of appellant’s down payment upon default.

We have considered appellant’s remaining contentions and find them to be without merit. Concur — Ellerin, J. P., Rubin, Ross, Williams and Tom, JJ.

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Although time was not made of the essence, the referee of sale found appellant in default for failure to close. The terms of sale, which a principal of appellant signed, and to which it was, therefore, bound, granted the referee discretion to grant an adjournment of the closing, which it did on one occasion, and to direct a new foreclosure sale in the event of noncompliance with the terms of sale. The terms of sale also [334]*334provided for the forfeiture of appellant’s down payment upon default.

We have considered appellant’s remaining contentions and find them to be without merit. Concur — Ellerin, J. P., Rubin, Ross, Williams and Tom, JJ.

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Bluebook (online)

225 A.D.2d 333, 638 N.Y.2d 911, 638 N.Y.S.2d 911, 1996 N.Y. App. Div. LEXIS 2098, Counsel Stack Legal Research, https://law.counselstack.com/opinion/citibank-v-sahakian-nyappdiv-1996.