Smith v. Bounds Package Corp.

The appeal in this case is from a decree in equity setting aside and declaring null and void a contract for the sale of land and of a herd of cattle and of other personal property and ordering the refund by the appellant, as vendor under the contract, to the appellee, as purchaser thereunder, of the net sum of $8,000, with interest from the date of the decree. The Chancellor filed a brief, but comprehensive, opinion in which he held that the con tract should be rescinded and that the parties could and should be restored to substantially their original positions. The decree recited that it was…