Amistad, Inc. v. Frates Communities, Inc.

OPINION

JAMES, Justice.

This dispute arises out of a real estate transaction wherein the grantor, Defendant-Appellant Amistad, Inc., agreed to release parcels of land proportional to the amount of debt paid in installments by the grantee, Plaintiff-Appellee Frates Communities, Inc. Plaintiff-Appellee Frates brought this suit seeking, inter alia, rescission of the entire transaction, alleging that Amistad had breached its agreement to execute partial releases. Defendant-Appellant Amistad counterclaimed, alleging that Frates had defaulted on the notes given in payment for the land and that…