Rancourt v. Verba

Allen, CJ.

Defendants sold plaintiffs a parcel of land in North Hero, which the parties subsequently learned was unsuitable for lakeshore development. Plaintiffs sued to rescind, but the court allowed defendants to elect rescission or pay damages to plaintiffs for the diminished value of the property. It awarded plaintiffs attorney’s fees, but denied plaintiffs’ claim for prejudgment interest and consequential damages. Both parties appealed. We reverse.

In November 1989, defendants sold a ten-acre, lakeshore lot in North Hero to plaintiffs for $115,000. Defendants knew that plaintiffs intended…