(Download) "Clearview Concrete Products Corp. v. S. Charles Gherardi" by Supreme Court of New York " Book PDF Kindle ePub Free
eBook details
- Title: Clearview Concrete Products Corp. v. S. Charles Gherardi
- Author : Supreme Court of New York
- Release Date : January 30, 1982
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 81 KB
Description
The plaintiffs in these two consolidated foreclosure actions are the trustees of the Pension and Retirement Benefit Fund, Locals 138, 138A and 138B, International Union of Operating Engineers (the Fund), which holds a first mortgage on a 500-acre parcel of land in Manorville, and Clearview Concrete Products Corp. (Clearview), the holder of a second mortgage on the same property. The property owner, Manorville Estates, a limited partnership, and its general partner, S. Charles Gherardi, Inc. (jointly referred to here as Manorville), have asserted the defense of unclean hands and counterclaimed for rescission of both mortgages alleging fraudulent concealment of an acceleration provision in two unrecorded instruments which modified and extended the Funds mortgage. In further causes of action, Manorville seeks damages against Clearview and its principal, Andrew DeLillo, for fraud and breach of warranty. After a lengthy trial, Special Term dismissed the counterclaims and decreed foreclosure of both mortgages. On this appeal, we conclude that Manorville is not entitled to relief against the Fund because it has failed to prove the latters participation in any fraudulent scheme. As to the second mortgage, the right to rescind was waived by Manorvilles ratification of the entire transaction after discovery of the fraud. Although the ratification did not extinguish Manorvilles claims for monetary damages, the
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