BEACHCOMBER COINS, INC. V. BOSKETT
400 A.2d 78 (1979)
NATURE OF THE CASE: This was an action for rescission. Beachcomber (P) sought to overturn a decision, which held that P could not rescind a contract for the sale of a coin that was entered into with Boskett (D), seller.
FACTS: Beachcomber (P) was a retail coin dealer who purchase a coin from Boskett (D) that was purported to be a 1916 Denver dime. P showed at trial that the coin was a counterfeit and that analysis was not disputed by D. D did dispute that the coin tendered back to him by P was not the one he sold. The trial judge found for D as per trade industry practices that the party purchasing the coin was to assume the risk of genuineness and P had taken 45 minutes to examine the coin and bought it. P then sold it to another for $700 subject to certification of genuineness by the American Numismatic Society. It was labeled counterfeit and P sued D. P appealed.
ISSUE:
RULE OF LAW:
HOLDING AND
DECISION:
LEGAL ANALYSIS:
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