Smith v. National Resort Communities, Inc.

STEAKLEY, Justice.

This is a suit by Warren H. Smith and wife for rescission of a contract to buy a lakefront lot, and for restitution, with the damages alleged to be in the amount of the purchase price, $25,700, plus “a reasonable amount of interest on said amount from July 2, 1973, plus expenditures for taxes from such time.” After trial to the court a take-nothing judgment was rendered. The trial court concluded that the Smiths had failed to prove the elements required to support the remedy of rescission. This judgment was affirmed by the Court of Civil Appeals. Smith v. National Resort…