Billian v. Mobil Corp.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that rescission is an equitable remedy where the primary obligation is to undo the original transaction and restore the former status of the parties
• noting that the sellers' state of mind is irrelevant to a claim of non-disclosure or concealment
• holding that, “[r]escission is not available as a matter of right. Relief by way of rescission lies within the sound discretion of the court, to be exercised according to what is reasonable and proper under the circumstances of each particular case[.]”
• stating that “[u]nless waived, a jury must make findings concerning all facts which are common to the legal and equitable claims before the trial court”
• noting that rescission is an equitable form of relief
• rejecting plaintiffs’ subjective approach to materiality, which would have “measured] how disclosure would have affected their personal decision to purchase” and emphasizing that the test is whether the undisclosed fact “materially affect[s] the value of the property”

Source: CourtListener parenthetical corpus (CC0).