Question
Frank sold Oliver a mobile home trailer park in Great Falls, Montana with 96 residential spaces for$1,445,000. Oliver and Frank both signed a contract prepared
Frank sold Oliver a mobile home trailer park in Great Falls, Montana with 96 residential spaces for$1,445,000. Oliver and Frank both signed a contract prepared by Oliver's real estate agent containing significant detail and stating: 1) Frank had not conducted an inspection with Oliver nor warrantied property's condition. 2) Oliver had the right to inspect property prior to purchase. 3) Special disclaimer of reliance on Frank's assurances. 4) Inspection was waived or satisfied. 5) Clause in agreement said this was entire agreement and superseded any oral agreements. 6) Agreement could only be amended by a writing. After sale was completed, Frank died. His estate inherited the asset (revenue from sale). Also, after the sale, Oliver found significant problems with park's water system. Required$400,000in repairs. Oliver stopped making payments to the estate, claiming the cost of the water system repairs made payments impossible. Frank's estate sued for breach of contract; Oliver countersued for fraud, contending that Frank said that water system was in good condition and that occupancy rate was higher than in fact it was. Who wins and why?
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