Smith v. Taber

Plaintiff, a schoolteacher, purchased a summer resort business from defendants in 1957 for $23,000. He paid $3,000 of the purchase price in cash and executed a land contract calling for the payment of the balance in monthly instalments with 6% interest. Having operated the resort business during the 1957 season with unsatisfactory results, he instituted this suit for rescission, claiming that he was induced to purchase the business by the defendants’ false representations. The chancellor denied ■ plaintiff the relief he requested.

The defendants denied they made any material misrepresentations…