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Trump victory in Chicago condo dispute upheld on appeal
(Above) Unfinished sign at River North’s Trump Tower on June 5. 10-Jun-14 – A United States Court of Appeals had no sympathy for an 87-year-old woman who claimed she was defrauded by Donald Trump over two condominium units she agreed to purchase at Trump International Hotel & Tower in Chicago. Jacqueline Goldberg claimed fraud, breach of contract, and other charges over an agreement to buy the units but lost a $6 million lawsuit against Trump last year. That decision was upheld on appeal on Tuesday. The civil trial in 2013 at Dirksen Courthouse brought Trump to downtown Chicago to testify. Goldberg was not happy with the real estate mogul exercising a clause in the purchase agreement to take back common elements that included ballrooms, meeting rooms, and other hotel amenities that would have generated revenue for unit owners. She sued to get her $516,457 in deposits back plus damages. The appellate court noted Trump had the right to modify common elements of the condominium and had done so at least three times. Calling her “a wealthy and financially sophisticated Chicago businesswoman,” the court said Goldberg was “advised by counsel and clearly informed by the purchase agreement that by signing it she was in effect buying a pig in a poke.” Goldberg “made a risky investment by agreeing to purchase a product that the seller had reserved the right to change in a manner that might reduce its value to her,” said the court. “She had signed with her eyes open.” The deposit money has been left in an escrow account since 2010 pending the outcome of litigation. Previous stories: |
