Arrowood Realty Corp. v. Sagliocca

On March 15, 1963, an agreement was signed by these parties providing for plaintiff’s purchase of defendants’ real property. A $40,000 down payment was received by defendants on a total price in excess of $500,000. Plaintiff has now brought this action to rescind the agreement based upon defendants’ allegedly fraudulent misrepresentation that they knew of no contemplated zoning change nor Town Board meeting held to discuss any proposed change of zone with respect to this property. The complaint further alleges that proposals for a change were heard at a public session in December, 1962, and…