Bates v. Simmons

John A. Fogleman, Justice.

Appellants brought this action to rescind a contract for the purchase of property from the appellees, asserting misrepresentation, mutual mistake and failure of consideration. The contract was entered into on November 24, 1969. For a consideration of $17,500, payable at the rate of $150 per month, plus interest, and an additional payment of $500 per year beginning in 1970, the Simmonses sold the Bates property described as:

All of Block D, Town of Graphic, Arkansas, including the store building, dwelling house and all other structures and improvements of every kind,…