May v. Otto

Alleging fraud, this bill was filed to secure the rescission of a contract for the purchase of a cigar and confectionery business, and to restrain the negotiation of certain promissory notes given in partial payment thereof. The contract was in writing and provided for the.purchase of the business, including stock, store fixtures, and a three-year lease of the premises, for á consideration of $4,000, of which $2,000 was to be paid in cash, and the balance in equal monthly payments evidenced by 20 notes of $100 each. The plaintiff made the initial payment and went into possession on February…