Court of Appeals of Georgia October 13, 2000, A00A1363, A00A1364 (Valley Place, Ltd. v. T.I. Equity Fund (1995), L.P.)

Miller, Judge.

Valley Place, Ltd. sued T. I. Equity Fund (1995), L.P. to recover the balance it claims was due on a promissory note for the sale of real estate. Valley Place agreed to sell T. I. an apartment complex consisting of 250 apartments. After the execution of the contract but before closing, the parties discovered that the property was zoned for only 244 apartments.