New York Court of Appeals
Michael Slamow v. John Del Col
May 7, 199279 N.Y.2d 1016
Summary
The Court of Appeals affirmed the Appellate Division, holding that the mortgage contingency clause in paragraph 23 of form M 146 must be given its plain meaning—requiring a written commitment from an institutional lender—thereby entitling the purchasers to the return of their down payment. Justice Hancock, Jr., dissenting, would reverse and reinstate the Supreme Court order.