[DOWNLOAD] "Fote v. Reitano Et Al." by Division A. Supreme Court of Florida ~ Book PDF Kindle ePub Free
eBook details
- Title: Fote v. Reitano Et Al.
- Author : Division A. Supreme Court of Florida
- Release Date : January 26, 1950
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 49 KB
Description
ROBERTS, Justice. The plaintiffs, appellees here, filed suit in the court below for the rescission and cancellation of a contract for the purchase and sale of the defendant-appellant's business, being a wheel alignment service. The contract sought to be rescinded, dated December 17, 1947, and styled a ""Deposit Receipt,"" recited that $7,000 had been paid down as a deposit on the purchase price of the business, which was $70,000, and provided that the terms of the deal were $20,000 cash and the balance of $50,000 payable over a six-year period in monthly installments. The ""Deposit Receipt"" further provided that all necessary instruments for the sale of the business should be executed and the balance due for the completion of the transaction should be paid over, within 14 days from the date thereof. The plaintiffs sought rescission of such contract on the ground that defendant misrepresented the net profit of the business, and prayed for a return of their $7,000 deposit. Relief being granted as prayed, the defendant has perfected this appeal from the final decree of the lower court.
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