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NATIONAL ENTERPRISES, INC. v. REA

No. 97-274.

947 S.W.2d 378 (1997)

329 Ark. 332

NATIONAL ENTERPRISES, INC., and Arkansas No. 1 LLC, Appellants, v. Charles P. REA and Mickie Rea, his Wife, Appellees.

Supreme Court of Arkansas.

July 7, 1997.

Attorney(s) appearing for the Case

Joel Taylor, Little Rock, for appellant.

Jay Bequette, Keith I. Billingsley, Little Rock, Don M. Schnipper, Hot Springs, for appellee.

CORBIN, Justice.

Appellants National Enterprises, Inc. ("NEI"), and Arkansas No. 1 LLC appeal the judgment of the Garland County Chancery Court permitting Appellees Charles P. Rea and Mickie Rea to equitably rescind their contract of purchase and deed of conveyance of a time-share unit located in the now-defunct Lakeshore Resort & Yacht Club in Hot Springs. Appellants raise four points for reversal, one of which requires an interpretation

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