Elton Clark, as Trustees Under a Declaration of Trust Under the Name of Boston Mexican Petroleum Trustees…

Summary

The New York Court of Appeals reversed the lower courts' dismissals and ordered a new trial, holding that the plaintiffs' separate Missouri action did not constitute an election of remedies that barred their rescission suit in New York and that no waiver or abandonment of rescission was shown. The court emphasized that the issue of waiver was a factual question requiring trial.