This case involved a dispute between two groups (Strasser and Hung) who were partners in a land development project.
After deciding to end their partnership and divide the lands, an equalization payment was made based on appraisals.
The Plaintiffs (Strasser Group) sought rectification of the agreements and compensation, alleging a common mistake regarding future development charges on the industrial lands they received, which significantly inflated their value.
The court found that while a common mistake existed, the agreements themselves allocated the risk of such mistakes to the party owning the lands.
The court dismissed the Plaintiffs' claim for rectification, holding that rectification is for correcting errors in recording an agreement, not for changing the agreement itself due to a belatedly recognized error of judgment or unanticipated effects.
The Defendants' counterclaim was also dismissed.