In Re Matter of Rice

OPINION OF THE COURT BY

WAKATSUKI, J.

Appellees Richard A. Breton and Margaret Mary Breton, as Sellers, filed a petition in the land court against Appellant Central Pacific Supply Corporation (hereinafter “CPS”), as Buyer, seeking to cancel the Agreement of Sale of a leasehold interest and for damages. The Bretons alleged that CPS had breached the Agreement by defaulting on the payment due thereon and by vacating the premises. CPS timely answered the complaint and counterclaimed against the Bretons for the breach of the Agreement and sought a rescission of the Agreement and damages. The land…