In 8109 Pizzeria of New York, Inc. v. Polo Pizza One Corp. , Polo agreed to buy a pizzeria for $228,000, gave a $30,000 downpayment, and promised to pay the rest by way of monthly installments.
When Polo defaulted on its payments, 8109 called for the acceleration of the remaining monies due, as per the terms of the parties' agreement.
After the Queens County Supreme Court denied 8109's request for relief, the company appealed to the Appellate Division, Second Department.
Although Polo claimed to have expended significant sums repairing the establishment, the AD2 thought that had nothing to do with the entity's obligations under the contract and that Polo had an "independent" obligation to pay the purchase price.
While the precise amounts due weren't clear, the AD2 still felt 8109 was entitled to a finding that Polo was liable for its contract breach.
That ain't amore!
To view a copy of the Appellate Division's decision, please use this link: 8109 Pizzeria of New York, Inc. v. Polo Pizza One Corp.