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Mortgage Litigation News
- California Letters of Intent & Proposals - When a proposal was really a contract, and the $16 million dollar surpriseRecently a federal court in Northern California found that a document which one party claimed was a non-binding proposal was really a binding ground lease agreement with purchase options, which resulted in a 16 million dollar damage award. The proposal concerned development of the Santana Row project in San Jose. Generally, creating of a valid contract requi […]