Lewes Investment Company, L.L.C. v. Estate of Graves, et al., No. 2893-VCG, 2013 Del. Ch. LEXIS 42 (Del. Chanc. Ct. Feb. 12, 2013)

(case involves contract to develop farm owned by defendants; plaintiff entered into purchase contract for $13 million; under contract, plaintiff could walk away from transaction after "due diligence" period and defendant would retain down payment of $650,000; if defendant breached contract, down payment forfeited and defendant liable for plaintiff's costs; plaintiff given right of specific performance under contract; as plaintiff sought financing and regulatory approval real estate market went south; at time when plaintiff not ready to go to closing, plaintiff demanded that defendant cure title defect even though defendant under no obligation to do so until closing; plaintiff sued for breach even though no closing scheduled and buyer still wanting to go forward with contract; defendant cleared title and made demand to proceed to settlement and plaintiff sued for return of downpayment and costs; court determined that plaintiff merely trying to force defendant to provide cost-free option period and that defendant not in breach; judgment for defendant).