Jacqueline Goldberg, an 87-year-old grandmother was unsuccessful in her suit against Donald Trump over a failed real estate transaction. During the four years of litigation, Goldberg and her attorney aimed to dissuade others from doing business with Trump and The Trump Organization. Goldberg claims that Trump swindled her into a bait-and-switch scheme to buy condos in one of his Chicago skyscrapers.
She claims to have suffered damages up to $6 million and asserts that Trump wooed her into buying two condos for $1 million each and promising her a share of building profits along with her commitment to buy. Trump reneged on this promise once Goldberg agreed to purchase the two condos.
Goldberg and her attorney are believed to have lost this lawsuit because of the details in the contract. The contract between the two parties stated that Trump could cancel the provision which allowed Goldberg a share in the building profits at anytime he saw fit. This may seem like an unfair provision considering the circumstances, but as it turns out Goldberg is a very profitable investor herself and should have been more cautious in signing the contract.
Indeed, our firm has been very successful in litigating these issues associated with contractual details and real estate transactions. Our firm is prepared to handle many real estate related litigation claims.
Trump is known as a savvy businessman, who is very flashy at times. It is easy to believe that Trump may have fascinated her with the idea of buying these two condos and also getting a share of the building profits. However, when signing into a contract it is always a "must" to read the contract in its entirety. Please contact us today if you are in doubt over your rights in any related real estate contract or if you are attempting to purchase real estate in Florida.
Although her wishes to expose Trump may fail, she has taught us all a very valuable lesson. This case is a prime example that no matter how great the deal may be or seem to be you should always read the contract before you sign on the dotted line. Whether you are an experienced businessman or just the average Joe you need to always know what you are signing. And if you don't, then you should contact an attorney to help you understand it.