LUCENTI V. CAYUGA APARTMENTS, INC.
399 N.E.2d 918 (1979)
NATURE OF THE CASE: This was a dispute over the risk of loss after a contract was signed
but before settlement.
FACTS: P agreed to purchase two parcels of real estate. One week after the contract was
executed, one of the buildings was substantially destroyed by fire. D submitted proof of
loss and got $45,000. D's attorney then returned the $1,000 deposit made by P on signing the
contract. P refused the refund and indicated he wanted to close with an abatement. P sued
for specific performance. The trial court found for D. The appeals court reversed. On remand
from the appeals court the trial court found the abatement to be $19,500. P again appealed
and the abatement was increased to $27,500. Both P and D appealed. P's was dismissed and D's
was heard.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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