Martinez v. River Park Place

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2012 IL App (1st) 111478
Decision Date: 
November 20, 2012
District: 
1st Dist.
Division/County: 
Cook Co.,2d Div.
Justice: 
QUINN
Holding: 
Affirmed.
Court properly held that Defendant's breach of contracts to purchase two condominium units in a planned development in Elgin were limited to a return of plaintiffs' earnest money and nominal damages of $1 each, rather than damages equal to difference between contract prices for condominium units and market prices. Purchase agreement did not contain a valid and enforceable liquidated damages provision. Plaintiffs had the burden of proving fair market value on the date of the breach, and without such evidence they were entitled to only nominal damages. (HARRIS and CONNORS, concurring.)