Leal v. Holtvogt

Ferdinand Leal and his wife (plaintiffs), who had a student-teacher relationship with equine experts Joseph and Claudia Holtvogt (defendants), entered a partnership agreement paying $16,000 for a one-half interest in a horse the Holtvogts owned, based on the Holtvogts' representations - including that the Leals should forgo purchasing another horse and that this horse could command high stud prices - while the Holtvogts failed to disclose the horse had been treated for lameness; a horse breeder testified she would have reservations about breeding a lame horse. The horse died before the Leals recouped their investment, and they sued for breach of warranty; the lower court ruled for the Leals, and the Holtvogts appealed.