If you’re as old as I am, you might remember the television commercial in which twin sisters argued about the nature of Certs. One said, “Certs is a candy mint,” and her sister countered, “Certs is a breath mint.” A booming male voice over said, “Stop. You’re both right. Certs is a candy mint and a breath mint. Certs is two, two, two mints in one.”*
In Rainbow Realty Group, Inc. v. Carter, the Indiana Supreme Court encountered a real estate transaction in which one litigant said, “It’s a land contract,” and the other countered, “It’s a rental agreement.” Unlike the twins in the Certs commercial, only one was right.
Rainbow was a property manager for a trust that owned multiple houses for sale or rent in Marion County, Indiana. It offered four different types of transactions to its customers: