Charles Trainor Quoted in Real Estate Finance and Investment
Charles Trainor quoted in Real Estate Finance and Investment on recent court decision regarding the importance of non-binding language in preliminary sale agreements.
March 24, 2011
Charles Trainor was quoted in an article in Real Estate Finance and Investment on the recent ruling by California’s Ninth Circuit Court of Appeals regarding the importance of clearly specifying non-binding language in preliminary sale agreements.
The case involved the removal of non-binding language by one party in the final proposal for the purchase of a commercial building in San Jose, California. The sale was never completed and the signed final proposal created an enforceable binding agreement.Mr. Trainor states, “I don’t think there is any monumental change but it continues to be that if you want something to be not binding, you have to make it clear that it’s not binding.”