Dorothy and John Hufffschneider listed their house and lot for sale with C. B. Property
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Dorothy and John Hufffschneider listed their house and lot for sale with C. B. Property. The asking price was $165,000, and the owners told C. B. that the size of the property was 6.8 acres. Dean Olson, a salesman for C. B., advertised the property in local newspapers as consisting of six acres. James and Jean Holcomb signed a contract to purchase the property through Olson after first inspecting the property with Olson and being assured by Olson that the property was at least 6.6 acres. The Holcombs never asked for or received a copy of the survey. In actuality, the lot was only 4.6 acres. The Holcombs now seek to rescind the contract. Decision? |
Explanation
The contract has no legal validity because it includes the characteristics of fraud and misrepresentation, resulting damages to the Individual H. The contract was completed without doing right survey of the property by Agent O and by quoting the wrong size of the lot,the lot was of 4.6 acres and not 6.8acres.
Verified Answer
The contract for sale of property stands void by Individual H because the sale by Agent O was done by misrepresenting the size of the lot.
