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SHORE BUILDERS, INC. v. DOGWOOD, INC.

Civ. A. No. 84-508 CMW.

616 F.Supp. 1004 (1985)

SHORE BUILDERS, INC., Old Court Joint Ventures, Inc., and Crab Cove Limited Partnership, Plaintiffs, v. DOGWOOD, INC., M.K.T. Enterprises, Inc., and Ocean View Enterprises, Inc., Defendants.

United States District Court, D. Delaware.

June 21, 1985.

Attorney(s) appearing for the Case

Richard J. Abrams, of Richards, Layton & Finger, Wilmington, Del., for plaintiffs.

George B. Smith, and James L. Patton, Jr., of Young, Conaway, Stargatt & Taylor, Wilmington, Del., for defendants.

OPINION

CALEB M. WRIGHT, Senior District Judge.

This action for rescission of a contract, or in the alternative, for an abatement of the contract price and reformation of purchase-money mortgages, arises out of the purchase and sale of a partnership whose sole asset is an undeveloped tract of land. Although formally characterized as the sale of a partnership, the underlying purpose of the transaction was to...

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