The plaintiff and defendant entered into a business agreement to build and operate a wood-drying kiln.
The plaintiff advanced funds for construction, while the defendant contributed land.
The plaintiff sued for fraudulent misrepresentation, breach of contract, and conversion, alleging the defendant lied about his experience, grossly overstated the land's value, failed to account for construction costs, and wrongfully transferred the business property to his own holding company.
The court found the defendant made fraudulent misrepresentations and fundamentally breached the agreement.
The court granted rescission, ordering the defendant to pay restitution of the plaintiff's advanced funds, plus punitive damages for his atrocious conduct.
Claims against the real estate agent were dismissed, while the company's lawyer was found to have breached his duty by facilitating the wrongful property transfer.
