Facts

Defendants Guillermo and Enedina Padilla owned many real estate investment properties, including property located at 1512 11th Street in Los Angeles. During the early months of 2004, Defendants decided to sell their property and consulted a real estate agent. Plaintiffs Young Byoun and Myoung Shin expressed interest in purchasing three of defendants' properties for development purposes. On June 9, 2004, defendants and plaintiffs entered into three separate sales agreements.

PLAINTIFFS' CONTENTIONS:
The plaintiffs alleged that defendants contracted to acquire and re-sell to plaintiffs two adjacent properties, which were owned by individuals referred to as the Chans.

Plaintiffs contended that the defendants signed the purchase contracts on the properties as a ruse to preclude plaintiffs from extending a direct purchase offer to the Chans. The plaintiffs alleged that the defendants than refused to sell them the Chan property. Plaintiffs also contended that the defendants included names of friends and relatives to the deed for the Chan property, thereby avoiding restrictions set by the Los Angeles Rent Stabilization Ordinance.

Result

The court entered judgment for plaintiffs and against defendants. Plaintiffs were awarded $42,750 in damages and $128,250 in punitive damages.

Other Information

FILING DATE: Oct. 13, 2005.