Maryland Court of Special Appeals
14 A.3d 6 (2011)
Simard (plaintiff) placed the successful bid of $192,000 on a piece of property being sold at a foreclosure sale, but failed to complete the purchase. The property was resold (the first resale) to Zimmerman for $163,000, but he also failed to complete the purchase. The property was again resold (the second resale) for $130,000. Simard was assessed the full amount of the shortage between his purchase price and the completed second resale purchase price. Simard argued that he was liable only for the difference between his purchase price and the first resale purchase price. The trial court held that Simard was liable for the full amount of the shortage caused by both the first and the second resales, because the shortage from the second resale was a foreseeable damage. Simard appealed.
Rule of Law
Holding and Reasoning (Woodward, J.)
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