Smith v. Continental Bank

HOLOHAN, Vice Chief Justice.

Frank and LaDonna Smith, appellees, filed an action against appellant Continental Bank for rescission of a contract for the purchase of a house. The action, which was tried to the superior court sitting without a jury, resulted in a judgment denying rescission but granting recovery for breach of contract. The bank filed a timely appeal, and the Smiths filed a cross-appeal. This court assumed jurisdiction pursuant to Rule 19(e), Rules of Civil Appellate Procedure, 17A A.R.S.

The evidence presented at trial was that in 1972 the bank agreed to finance a builder in the…