American Exchange Bank v. Smith

The plaintiff, as assignee of the vendor, brought this action to recover the balance of the purchase price due under a contract for the sale of an automobile. The defendants set up, by way of affirmative defense, certain alleged fraudulent representations made to them by the vendor, inducing them to enter into the contract, and prayed for rescission. From a judgment entered on findings favorable to plaintiff, defendants appeal.

The contract of sale was dated April 6,1931, but was actually executed April 8th. The appellants, however, had taken possession of the car on April 5th, and had paid…