On August 31, 1962, Parkwood, Inc. (defendant) sold property to Butler for $1,000,000. Subsequently, Parkwood conveyed the property to the Cohens (defendants), subject to Butler’s interest. Meanwhile, Butler assigned his interest to Wolf (plaintiff). On December 4, 1962, the closing date, Parkwood and the Cohens defaulted. The district court awarded specific performance in favor of Wolf. The property was not conveyed to Wolf until February 5, 1965, over two years after the original closing date. On this date, the market value of the property was $1,445,000. Wolf contended that he had contracted to sell the property for $1,800,000 to a third party, but that the buyer had withdrawn due to the delay in the conveyance of the property to Wolf caused by the defendants’ breach. As a result, Wolf sought $355,000 in damages, the difference between the $1,800,000 lost sale and the $1,445,000 value of the property at the time of conveyance. The district court ruled that Wolf was not entitled to damages. Wolf appealed.