McLeskey v. Ocean Park Investors, Ltd.

In this appeal from a decree rescinding a contract of sale of real property, the dispositive question is whether the party seeking rescission was estopped to do so, having previously sought to enforce the contract. Finding such an estoppel warranted, we will reverse.

On June 5, 1979, F. Wayne McLeskey, Jr., (McLeskey) entered into a contract of sale with Richard S. Foster (Foster) whereby Foster agreed to purchase'7 4 subdivided but undeveloped lots in the subdivision of Ocean- Eark, in the City of Virginia Beach. The purchase price was tc Ae $140,000, payable in installments before the date…