The parties disputed who was entitled to keep the deposit paid in connection with a contract to sell real property.  Plaintiff filed a motion for summary judgment and Defendant filed a cross motion for summary judgment.  Despite Plaintiff’s assertion to the contrary, the Court found that the contractual language was clear and that Defendant’s obligation to transfer a franchise agreement had been waived by Plaintiff.  Additionally, Defendant provided sufficient notice of default pursuant to the contract.  Thus, Defendant was not in breach of the contract.  Plaintiff, on the other hand, had breached the contract by failing to provide evidence of financing.  Finally, the deposit, which constituted less than ten percent of the purchase price, was reasonable and enforceable as a liquidated damages provision.  Summary judgment was denied as to Plaintiff and the cross motion was granted as to Defendant.
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