Yount v. Indianola Beach Estates, Inc.

There are times when an attempt by the courts to rescind a contract is like trying to unring a bell. What’s done is done and cannot be undone. A problem in rescission faced the learned trial judge here.

Plaintiff Yount, an experienced trader in real-estate equities, along with one Dale Brady, had been buying and selling real-estate interests and participating in highly complicated real-estate deals since 1955. He understood the complexi ties of these trades and had grown accustomed to the use of complicated real-estate paper.

On July 25, 1960, plaintiff Yount and his coplaintiff Kireigel…