Alaface v. National Investment Co.

OPINION

GRANT, Presiding Judge.

This appeal concerns an action to recover damages that allegedly resulted from misrepresentations made in the sale of a subdivision lot. We hold that (1) appellants’ consumer fraud claim is barred by the statute of limitations; (2) the Arizona subdivision reporting statutes apply to appellee, but appellants’ remedy under the statutes is limited to rescission; (3) appellee is not liable for the alleged misrepresentations by appellants’ agent but it may be liable under a negligent misrepresentation by omission and negligence per se theory; (4) appellants and…