Ruparell v. J.H. Cochrane Investments Inc.
The Court held that the trial judge did not err in finding the parties agreed on the essential terms by April 24, 2020, such that a binding contract existed; the trial judge properly exercised discretion to refuse specific performance and to award $5,000,000 as damages reflecting the proven lost bargaining surplus, and the counterclaim based on the letter of intent was correctly dismissed.
Source excerpt
- Formation of contract
- Specific performance
- Letter of intent
- Damages for breach
- Certainty of terms
- Intention to be bound