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Bugs Spaniard advertised for a partner in his accounting practice who would also purchase his residence. Mary Shoat replied and during two interviews, Spaniard represented
- Bugs Spaniard advertised for a partner in his accounting practice who would also purchase his residence. Mary Shoat replied and during two interviews, Spaniard represented that his business was bringing in either about $300,000.00 a year, or from $300,000.00-$400,000.00 a year. At a third interview Spaniard produced summaries of business done, which showed gross receipts below $200,000.00 a year. Shoat asked how the difference was made up and Spaniard produced a quantity of letters and papers which, he stated, related to other business which he had done. Shoat did not examine the books and papers thus produced, but only looked cursorily at them, and ultimately agreed to purchase the house and take a share in the business for $1,600,000.00. It turned out that the letters and papers, if examined, would have shown business of only $5,000.00 or $6,000.00 a year. Finding that the practice was utterly worthless, Shoat refused to complete the contract. Please advise Spaniard if Shoat can be sued for specific performance.
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