Luli Corp. v. El Chico Ranch, Inc.

HIGGINS, Commissioner.

Action for rescission of plaintiffs’ purchase of El Chico Ranch from defendant El Chico Ranch, Inc., for $196,500, on grounds of fraudulent misrepresentations alleged to have been made by defendants John K. and Jacqueline Teaford. If plaintiffs prevail, defendants would be required to reimburse plaintiffs more than $116,000 and title to the real estate in question would be transferred from plaintiffs back to defendants. Temporary injunctions were granted restraining defendant El Chico from negotiating plaintiffs’ $80,000 purchase money note and restraining defendants…