Reference no: EM133298125

Ronald owned a brewery which he was anxious to sell. In February 2019, Laurie visited the brewery, had a few brews and discussed a possible purchase. During these discussions, Ronald indicated that 2019 sales would likely exceed $500,000 and that 2018 sales were $400,000. Laurie was impressed with these figures and offered to purchases the brewery for $1million. The sale was completed on March 15th and was documented with a brief written agreement, which did not include anything about sales figures.

In April of 2019, Laurie had the financial statements for the brewery prepared and 2018 actual sales figures were $300,000. In addition, Laurie knew that the 2019 sales were 10% below the same period a year earlier. Laurie obtained the financial statements and confronted Ronald about the figures but Ronald was evasive, saying only that the written agreement contained no mention of sales figures.

1. On what basis could Laurie sue Ronald, i.e. name the most appropriate cause of action?

2. What would Laurie need to prove to be successful?

3. If Laurie, is successful what are her possible remedy or remedies?