Can the holcombs rescind the contract

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Reference no: EM131377689

Dorothy and John Huffs chneider listed their house and lot for sale with C. B. Property. The asking price was $165,000, and the owners told C. B. that the property contained 6.8 acres.

Dean Olson, a salesman for C. B., advertised the property in local newspapers as consisting of six acres. James and Jean Holcomb signed a contract to purchase the property through Olson after first inspecting the property with Olson and being assured by Olson that the property was at least 6.6 acres.

The Holcombs never asked for nor received a copy of the survey. In actuality, the lot was only 4.6 acres. Can the Holcombs rescind the contract? Explain.

Reference no: EM131377689

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