Peterson v. Neal

This is an action by the purchasers for the rescission of the sale of a motel, on the ground of fraud, i.e., misrepresentation as to what the motel had earned while operated by the defendants, upon which the plaintiffs were entitled to and did rely.

The trial court found that the defendants had represented to the plaintiffs that the motel had realized as gross revenue for the year prior to November 12,1953, the amount of six thousand dollars, and that that amount included fifty-four hundred dollars realized during the ten months from January 1, 1953, to November 1, 1953; and further found that…