R&L Investment Property, L.L.C v. Hamm, et al, No. 12-10299 (5th Cir. 2013)
Annotate this CasePlaintiff, purchaser of real property, sought damages resulting from alleged fraudulent misrepresentations. Plaintiff purchased property advertised as development-ready with an active waste-water permit. Plaintiff then learned that the permit had expired, but nevertheless maintained possession of the property and continued making its required financing payments. Plaintiff did not allege fraud until it defaulted on the modified promissory note - the original note having been modified after plaintiff defaulted - and faced foreclosure. The court held that plaintiff, with full knowledge of the alleged fraud, ratified the purchase and sale price of the property. Such ratification foreclosed plaintiff's right to damages, because plaintiff received the benefit of its bargain. Therefore, the court affirmed the judgment of the district court.
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.