Miller v. Sears

636 P.2d 1183 (1981)

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Nature of the Case

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Facts

Miller (P) was an attorney who represented Sears (D) prior to this transaction. Miller sold his house to D and prepared all the documents. The trust deed was made out to Norlite, Inc. a company that P helped D incorporate. The sales price was $500,000 with a down payment of $30,000. D also signed an indemnification for Norlite, Inc. with respect to payment of the loan. Trouble ensued, and eventually, P sued to have the note enforced. At trial, the jury found that P did not fully explain to D the significance and legal effect of each term or advise D to obtain independent counsel to consummate and explain the transaction. The trial court gave the verdict to D and ordered rescission and restitution, and costs to D. P appealed.