j.b. williams was an experienced businessman. In 1977, he entered into a

written contract to buy realty from Threlkeld and Murray for $1 million.

During the negotiations, Van Hersh, who represented the sellers, stated that

New York Life had made a commitment to loan $6 million to develop the property.

The terms of this loan were never discussed, nor did the parties ever talk about

interest rates or any possible conditions. Williams did not check with NY Life.

When Williams discovered that the life insurance company had not made a commitment,

he attempted to rescind the contract on the grounds of fraud. Would he be successful?