Copeland v. Reynolds

The parties are at issue on the purchaser’s claim of a rescission of the purchase on learning of the deceit. Each party argues that the judgment in the action for deceit is res adjudicata upon the issue. The purchaser takes the position that the action was predicated upon a prior election to rescind, while the seller argues that it imported an affirmance of the sale. It is not disputed that the judgment settled the purchaser’s right to rescind in her favor. Being defrauded, she was entitled to rescind as a right given her because of the fraud. The controversy relates to her exercise of the…