Nichols v. Howard
Buyers Jason Nichols and Jeffrey Miller appeal from a judgment after a bench trial awarding equitable relief and damages to sellers James Howard and Susan Howard (the Howards), in connection with a purchase agreement for a house. The equitable remedy available to the Howards under the Home Equity Sales Contract Act (HESCA) (Civ. Code, 1695 et seq.), given the circumstances of this case, is rescission, not cancellation. (All further statutory references are to the Civil Code unless otherwise specified.) The purchase agreement could not be rescinded because the Howards failed to offer evidence of their ability to repurchase the property. In addition, the trial court erred in its calculation of damages; therefore, we reverse the judgment and remand for recalculation of damages, if any, and issuance of a new statement of decision and a new judgment.
Comments on Nichols v. Howard