Cherrington v. Woods

On September 24, 1952, plaintiffs in error, the Cherringtons, were the owners of the fixtures and stock in trade they were using in connection with a business known as “Pat’s Liquor” in Evans, Colorado. Shortly before they had engaged one Brasier to sell the premises, which he advertised. It is claimed that it was represented to Woods, defendant in error, that the business was earning a net profit of $1400 to $1600 a month, and that the margin of profit in the business was 28%%. Woods entered into an agreement to purchase the property and made a down payment of $12,500. The sales agreement…