Harry B. Davis, Respondent v. William Rosenzweig Realty Operating Company, Appellant, Impleaded With Another

Summary

The Court affirmed the rescission of the land purchase contract and ordered repayment of the $5,000 with interest, but struck the portions of the judgment granting a lien, foreclosure, and deficiency judgment. It held that rescission destroys the contract and any lien arising under it, while confirming that an equity action for rescission on fraud grounds is proper. Justice Gray dissented, arguing that the lien survives rescission.