The appellants purchased luxury hotel condominium units in the Trump International Hotel based on financial estimates provided by the developer, Talon.
The estimates projected significant returns but were based on uninformed opinions and understated expenses.
The appellants sued for misrepresentation.
The motion judge dismissed their claims, finding their reliance on the estimates unreasonable and barred by entire agreement clauses.
The Court of Appeal reversed, holding that reliance was reasonable and it would be unconscionable to enforce the exculpatory clauses given Talon's evasion of Securities Act protections.
The Court ordered rescission for one appellant and damages for the other.