Elizabeth Covington, who was sixty-five years old when her husband died, needed as much money as she could muster, decided to have a garage sale. Her husband had a baseball card collection but Elizabeth knew nothing about baseball or baseball cards. She displayed the cards along with many other items. Michael Ferrell, and eighteen year old, who lived in the neighborhood, attended the sale. What caught his eye was the baseball card collection and, specifically what appeared to be a 1952 Topps Mickey Mantle rookie baseball card in near mint condition. On the outside of the box container was a sticker indicating “All cards $1 each.” He couldn’t believe his eyes. He had heard that a similar Mantle card had sold in 2006 for $72,000. He thought about telling Mrs. Covington the real value but decided against it and paid her the $1 and left. Later that month, while she was watching her favorite public television show, she saw Michael asking the antiques expert to estimate the value of the card. The expert said that even in a tough economy the card would likely bring $80,000 at public auction. Mrs. Covington brings an equitable action to rescind the contract, get her card back and return the $1 to Michael.
Case: Elizabeth Covington vs. Michael Ferrell (2010)
Facts: Elizabeth Covington versus Michael Ferrell. Plaintiff: Elizabeth Covington brings an equitable action movement to court against Michael Ferrell to receive legal relief for Michael Ferrell having made false representations and concealing material facts from her thus, not acting fairly. Defendant: Michael Ferrell believes that because of Elizabeth Covington’s oblivion of the card, the card is rightfully his own asset and reserves the right to conduct whatever business agreement with it that he chooses. No appellate court decisions.
Issue: Does Elizabeth Covington reserve the right to rescind the contract of the purchase of the baseball card, get the card back, and return the $1 to defendant Michael...