COPPOLA ENTERPRISES, INC., Petitioner, v. HELEN ALFONE and ARVIDA REALTY SALES, INC., Respondents, 531 So. 2d 334

Summary

In April 1978, respondent contracted with petitioner corporation to purchase a residential lot and single family home to be constructed by petitioner. Closing was projected for winter 1978-79 but did not take place until late summer 1980 due to construction delays. Respondent had difficulty acquiring the necessary financing within the time required, and she requested additional time within which to pay the balance due on the property. Petitioner denied her request, stating that time was of the essence, and resold the property. The trial court found in favor of respondent and awarded her "benefit of bargain" damages along with prejudgment interest. The court of appeal affirmed the decision. Accepting an application for review, the state supreme court held that the trial court was correct to award damages to respondent equal to the profit made by petitioner on the subsequent sale because, under the circumstances, respondent was entitled to a reasonable time in which to acquire the funds ...