Beasley v. Medin

OPINION

FORSBERG, Judge.

This lawsuit arose out of the sale of stock of a closely-held corporation by appellant Leone Medin to respondents John Beasley and Laverne Kintop. Respondents sought damages for misrepresentation, breach of fiduciary duty, negligence, securities fraud, and breach of contract. They also sought rescission of the stock purchase transaction.

Following trial, the court ruled in favor of respondents on their claim for rescission on the basis of mutual mistake, and the parties stipulated to a damage award of $42,738.44. We reverse.

FACTS

Medin Graphics, Inc. (hereinafter “MGI”)…