118 A.D.2d 1001 | N.Y. App. Div. | 1986
Appeal from that part of an order of the Supreme Court at Special Term (Klein, J.), entered January 31, 1985 in Ulster County, which, inter alia, denied plaintiff’s motion for summary judgment on the complaint.
Plaintiff and defendants entered into a management contract whereby plaintiff was to supervise the construction of a project on lands owned by defendant Valley View Development Corporation (Valley View). Pursuant to the contract, Valley View made a deposit of $6,650 with plaintiff, which deposit was to be held in escrow and returned to plaintiff at the end of the agreement. Thereafter, the parties entered into a termination agreement rescinding the management contract. Valley View agreed therein to pay to plaintiff two installments of $6,650 each. When the second such payment was not remitted, plaintiff commenced the instant suit for a breach of contract and thereafter moved for summary judgment on the complaint. Special Term denied the motion, holding that since the termination agreement was silent as to the disposition of the escrow funds held by plaintiff, an issue of fact existed as to whether those funds were allocable to the payment sued upon. We now reverse.
When a contract is terminated in the course of performance, any claim which either party may have had regarding any outstanding obligation thereunder is annulled unless it is
Order modified, on the law, with costs to plaintiff, by reversing so much thereof as denied plaintiffs motion for summary judgment on the complaint; motion granted and summary judgment awarded to plaintiff on the complaint; and, as so modified, affirmed. Main, J. P., Mikoll, Yesawich, Jr., and Levine, JJ., concur.