Costello v. Roer

The present action is one seeking rescission, on the ground of fraud, of a contract involving the purchase of a hotel business operated by appellant and sold to the respondents. The record discloses that negotiations therefor were commenced about September 24, 1943, culminating in a written agreement of sale dated September 30, 1943, under which the lease, equipment, etc. of the St. Mark’s Hotel in Venice, California, were sold to respondents for $17,500 payable $7,000 down, balance in monthly installments. Respondents gave appellant a cashier’s check for $5,000 which was duly paid and two…