Merry Realty Company, Incorporated, Appellant v. Shamokin and Hollis Real Estate Company, Incorporated, Respondent…

Summary

The New York Court of Appeals reversed the lower courts' judgment that awarded money damages for fraud and deceit, holding that the proper remedy was rescission of the property exchange. The Court emphasized that rescission and damages are mutually exclusive remedies and that the trial court erred by granting damages contrary to the equitable counterclaim.