Rights, Remedies, and Practice, at Law, in Equity, and Under the Codes Volume 5; A Treatise on American Law in Civil Cases, with a Digest of Illustrative Cases (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ...737. See George v. possessed of a horse I know to have Johnson, 6Humph. 36;44Am. Dec. 28S. many faults, and I wish to get rid of 'Leake on Contracts, 364; Fox v. him for whatever sum he will fetch, Mackreth, 2 Brown Ch. 420; Laidlaw and instead of giving a warranty of o. Organ, 2 Wheat. 178; Mactier v. soundness, to sell him with all faults. Frith, 6 Wend. 103; 21 Am. Dec. 262. By acceding to buy the horse with all & Harris v. Tyson, 24 Pa. St. 347; 64 faults, the buyer takes upon himself Am. Dec. 661. the risk of latent or secret faults, and Leake on Contracts, 366. Illustrations.--A purchases a piece of land from B, keeping from B the fact that there is, unknown to him, a mine under the land. Held, that A was under no legal obligation to disclose to B: Fox v. Mackreth, 2 Brown Ch. 420; Sviith v. Beatty, 2 Ired. Eq. 456; 40 Am. Dec. 435. The purchaser in New York knew of an advance in the price of copper in Europe, but his broker in Boston was ignorant of the advance, and on being asked by the seller, just before the sale, whether there was anyadvance, replied, "None that I know of," held, that there was no such concealment as would invalidate the contract: Coddington v. Goddard, 82 Mass. 436. 2351. Representation Believed to be True.--A representation made with a belief in its truth, though not true in point of fact, is not, as a rule, a legal fraud.1 But if the representation is of a material fact, and induces the contract, it is, even when innocently made, a good ground for setting aside the contract.2 On a sale of a business establishment, if the purchaser has no knowledge of the business, and relies on the seller's statement as to the value, and the seller knows of such reliance, and those statements are false, to the purchaser's ...