Latif Abdulsayed et al. v. Randal Hand et al.

This appeal arises from two very unorthodox contracts by which Buyers purchased a retail convenience market, the equipment and inventory of the market, and the underlying real estate. Within four months of the purchase, Buyers commenced this action seeking rescission of the contracts on the basis of Sellers’ breach of contract, fraud, and misrepresentation. Sellers prevailed on all issues in the trial court and recovered the business and real estate. The trial court also ruled that Sellers were entitled to keep the $190,000 down payment on the real estate. On appeal, Buyers raise several issues, inter alia, they contend the trial court erred in finding they did not prove fraudulent inducement or intentional misrepresentation, that the court erred in finding that Buyers breached the contract, and that the trial court erred in awarding Sellers the $190,000 down payment as damages for Buyers’ breach of the contract when Sellers did not plead damages in their counter-complaint. We have determined the evidence preponderates against the trial court’s finding that Sellers did not make intentional misrepresentations, and that, to the contrary, the preponderance of the evidence established that Sellers made intentional misrepresentations for which Buyers are entitled to a rescission of the contracts and return of their $190,000 down payment.