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Firestone & Parson, Inc. v. Union League of Philadelphia
Firestone & Parson, Inc., v. Union League of Philadelphia, 672 F. Supp. 819 (E.D. Pa. 1987), aff’d without opinion, 833 F.2d 306 (3rd Cir. 1987).
This dispute arose out of the sale of a painting that was believed by both parties to the transaction, and by art historians in general, to have been by the noted 19th century American landscape artist, Albert Bierstadt. Scholarship regarding the painting later changed, and the work was re-attributed to a lesser known artist. The purchasers filed suit to rescind the sale based on the doctrine of “mutual mistake,” but the court indicated that the facts did not support that claim and that the suit was barred by the statute of limitations.
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