Rescission of a contract: The Best Stories are true.
- Nick Howard
- Sep 12, 2016
- 2 min read
It's important to believe in yourself. You're probably the only person who does. It's important to believe in what you do. Everyone knows the best sales pitch involves a story. The best stories are true. Remember that. The truth can be stranger than fiction. But sometimes, there is not a great story behind one's decision to sell a restaurant, a record store, or a home. It is tempting to assert the impetus to sell a business emanated from a moment of apotheosis achieved late at night after bottles of Willamette Valley wine and the voice of John Lennon from the other side of the veil. Whatever you do, whatever you say, remember the best stories are true.
One need not wear sackcloth and bemoan mistakes along the city streets, but if this past year's finances were less than compelling, provide a potential buyer with a copy of the finances. While you want to emphasize the potential of the product, do not bury the bad or attempt to smooth out the rough edges of your product. The best stories are true, and if you stray too far from the truth on material issues, your buyer may have grounds for rescission.
Rescission may be appropriate when a plaintiff can allege and prove the defendants made a false statement of material fact upon which the plaintiff justifiably relied in making a decision to enter the agreement. Rescission may be based on an innocent misrepresentation as well as upon a fraudulent one. Hampton v. Sabin, 621 P.2d 1202,1208, 49 Or.App. 1041, 1051 (Or. App., 1981); Gardner v. Meiling, 280 Or. 665, 671, 674, 572 P.2d 1012 (1977); Bodenhamer v. Patterson, 278 Or. 367, 370, 563 P.2d 1212 (1977); Woodtek, Inc. v. Musulin, 263 Or. 644, 653, 503 P.2d 677 (1972).
If you have entered into a contract, and you feel there were material issues that were misrepresented to you, give me a call. I can't help your marriage, but I will help you sort through your options with regard to seeking an equitable solution to a contractual dispute.
Similarly, if you are looking to sell property, be it personal or real, give me call, and let's discuss an approach that is both honest and profitable. While endeavoring to put your best foot forward, it's often far too easy to put the other foot in your mouth.
Believe in yourself. Believe in your product, but remember, the best stories are true.
...and written, and signed by the party against whom enforcement of the story is sought.
The aforementioned is not legal advice. The kind of legal advice you want and need is not free. That's the truth. Call me, and we'll explore all of your options.
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