Case ID: ill-app_208/html/0297-01.html
Source: Caselaw Access Project
Author: {"author": "Mr. Presiding Justice Holdom", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

John E. Peterson, Appellant, v. John E. Landell et al., Appellees.
    Gen. No. 23,336.
    (Not to be reported in full.)
    Abstract of the Decision.
    Cancellation of instruments, § 2
      
      —when contract for purchase of business not canceled. Where it appears that one seeking to rescind a contract by which he purchased a business had possession of the business and dealt with it as his own for 7 months, removed it from the place at which it was located, sold it to a corporation for stock which was in face value $3,000 more than the purchase price he had agreed to pay for it, that changes had taken place in the property making it impossible to place all of the parties in statu quo, that in the transaction the parties dealt at arm’s length, and the charge of fraud and misrepresentation is not supported, the relief sought is properly denied.
    Appeal from the Circuit Court of Cook county; the Hon. Jesse A. Baldwin, Judge, presiding. Heard in this court at the March term, 1917.
    Affirmed.
    Opinion filed December 3, 1917.
    Statement of the Case.
    Bill by John E. Peterson, complainant, against John E. Landell and others, defendants, to rescind a contract for the purchase of a business on the ground of fraud and misrepresentation. From a decree dismissing the bill for want of equity, complainant appeals.
    Litzinger, Heady & Reid, for appellant.
    Edgar A. Jonas and Edward J. Hess, for appellees.
    
      
      See Illinois Notes Digest, Vols. XI to XV, and Cumulative Quarterly, same topic and section number.
    
   Mr. Presiding Justice Holdom

delivered the opinion of the court.