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Unformatted text preview: The courts held that the buyers believed that information was important, because they wanted to bring a gravel company in to extract the gravel. Also, they relied on that fact, and extracted it, only to come up short (by a large amount). Although they had a chance to find during escrow, whether the facts were indeed true, they failed to do so. However, even though they failed to do so, theyre the ones being harmed by the action, so they can still recover damages. Holding: There was misrepresentation, that the seller had a objective reasonable person standard, had failed to disclose the correct information. (reasonable person would probably not have known). So no punitive damages. Synthesis: Dissent/Concurrences:...
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This note was uploaded on 12/20/2011 for the course CONTRACTS 111 taught by Professor Dellinger during the Fall '11 term at Western State Colorado University .
- Fall '11