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Contracts Keyed to Dawson
Von Hake v. Thomas
Citation:
705 P.2d 766 (Utah 1985)Facts
William Von Hake owned a 6,400-acre ranch in Iron County, Utah, which he agreed to sell to Norman Thomas in 1980. Thomas represented himself as a wealthy businessman with substantial assets who could easily afford the $1.5 million purchase price. He claimed to have significant holdings in oil, real estate, and other businesses. Based on these representations, Von Hake agreed to sell the ranch with a $150,000 down payment and the remainder to be paid in installments. After taking possession, Thomas failed to make payments, attempted to sell off ranch assets, and encumbered the property with liens. Evidence at trial revealed that Thomas had virtually no assets at the time of purchase, had a history of similar fraudulent transactions, and had deliberately misrepresented his financial status to induce Von Hake to sell the ranch.
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