Raleigh, NC (June 14, 2011) – Scott Miskimon, a lawyer with Smith Anderson’s contract disputes and litigation practice areas, authored an article in the June 2011 edition of Real Property, a newsletter published by the North Carolina Bar Association Real Property Law Section. The article is entitled, The Nine-Year Closing: How Your Client’s Conduct Can Change Its Contractual Rights and Obligations. It analyzes a recent case that Mr. Miskimon litigated on behalf of the plaintiff buyer of commercial real estate located in downtown Raleigh. The original closing was delayed for nine years after the buyer raised concerns about the environmental condition of the property, the sellers for a time sought to remediate its environmental condition, the sellers later contracted to sell the property to a third party, and the plaintiff filed suit to enforce its contract. The North Carolina Court of Appeals ruled that, because of the sellers’ conduct, the sellers waived as a matter of law the contract’s time-is-of-the-essence clause and remained obligated to convey the property to the plaintiff buyer at a price based on the property’s fair market value that was established prior to the original closing date.
Mr. Miskimon is a commercial litigator who prosecutes and defends significant business disputes in state and federal court. A large part of his practice involves commercial real estate litigation, and land-use and zoning litigation. He is the co-author of the authoritative treatise North Carolina Contract Law , which he updates annually, and which has been frequently cited and quoted by North Carolina’s appellate courts.