Summit House Co. v. Gershman

502 N.W.2d 422 (1993)

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Summit House Co. v. Gershman

Court of Appeals of Minnesota
502 N.W.2d 422 (1993)

SC

Facts

Bruce and Karen Gershman (defendants) signed a contract to sell their condominium to Summit House Company (Summit) (plaintiff). Summit sued to terminate the contract. The district court awarded the Gershmans specific performance, requiring Summit to pay approximately $107,000. Summit did not pay the judgment. The Gershmans levied execution on the contract and bought Summit’s interest at a sheriff’s sale for approximately $73,000. Summit did not bid at the sheriff’s sale. Summit filed a motion for a judgment that the sale to the Gershmans satisfied the prior judgment against Summit. The district court denied the motion, finding Summit owed the Gershmans approximately $34,000, the difference between the sale price and the judgment. Summit appealed.

Rule of Law

Issue

Holding and Reasoning (Anderson, C.J.)

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