Snyder v. Rhoads

Rhoads (defendant) bought two laundry businesses from Snyder (plaintiff) believing them profitable based on a listing agreement, but soon learned they actually operated at a loss; he nevertheless continued running the businesses and making contract payments for a year and a half before stopping due to unprofitability, after which Snyder repossessed the businesses under the security agreement and sued for the remaining purchase price, and Rhoads counterclaimed for either rescission or affirmance-plus-fraud-damages, both of which the trial court dismissed before the jury ruled for Snyder.