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Originally Posted by LouisVanDerWright
Lol a contract has no implicit guarantee of the future value or any value of the property. That's insane.
In fact, a contract is itself an indicator of value. Value is the price someone is willing to pay for something. If this guy was willing to pay $10 mil at signing, it was worth $10 mil, just because he has now decided it is worth less and wants out doesn't mean he can break his contract or what is the point of having contracts?
This guy just sold Boat Holdings (i.e. Bennington Pontoon, the BMW of watercraft) for $805 million, I don't feel bad for him in the slightest.
The argument he is making is that the developer basically fraudulently got him to agree to the contract by promising Wanda would be there. The issue he will have is that Wanda was going to be there and the only reason they are not is because a authoritarian surveillance state decided to force them to sell their stake. All Magellan will have to do is demonstrate they are still working on a similar 5 star brand and his case will call apart.
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It's not about whether you feel right or wrong for the individual, it's what's right vs. wrong. It is wrong to be promised one thing, something big on your decision to purchase and for the rug to be pulled out from underneath you at the last second. It's a con job for them to not meet halfway with the residents on this.
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