Focus (Forum & Focus)
Dec. 5, 2007
The Rescission Remedy
Focus Column - By John A. Sturgeon - Canceling a contract can be difficult, but it is often the best way out of a business deal that involves fraud or misrepresentation.
By John A. Sturgeon
Your client has a sad story. He bought a business, but the profits were 30 percent less than the seller represented. Moreover, the seller concealed the existence of a large potential lawsuit. The client tells you that he never would have bought it if he knew what he knows now and that he would gladly give the business to the seller if he could get his money back. The client paid $500,000 down, ...
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