Fitz v. Bynum
Fitz v. Bynum
070rehearing
This case was heard in Department 2 of this Court, and opinion filed August 18th, 1880. Application is made that the case be heard by the Court in bank. In addition to the facts stated in the opinion of the Department, the transcript shows that the defendant, in his answer, alleged that the payee of the note in suit induced defendant to execute the note by fraudulent and false representations as to the value of the mine and its stock, and that the representations were made for the purpose of cheating and defrauding defendant; that he represented the mine and its stock to be of great value, and that $10,000 worth of ore
Opinion of the Court
The jury rendered a verdict for defendant. Plaintiff moved for a new trial, which was denied, and plaintiff appealed.
Whether the stock, the sale of which was the consideration for the notes in suit, was of value, was a matter properly submitted to the jury: as to this issue, the evidence was conflicting;
It was not error in the Court to sustain the objection to the question put to the witness McCleery, as to what the ore might have yielded under some other possible circumstances. The question in controversy was whether the stock had value as the mine then was.
Judgment and order affirmed.
Sharpstein, J., and Thornton, J., concurred.
Reference
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- FITZ v. BYNUM
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- Syllabus
- Rescission — Offer to Return — Consideration — Eraud — Conflict of Evidence.— In an action upon two promissory notes given for stock in a mining corporation, the defense was, that the plaintiff was induced to give the notes by false and fraudulent representations of the payee as to the value of the stock and mine; and the Court instructed the jury to the effect that, if the stock was of any value, the defendant must have offered to return it, or the plaintiff would be entitled to a verdict. Held, that the instruction was right; and, the evidence being conflicting on this point and the question of fraud, held, a verdict in favor of defendant should not be disturbed. Id.—Market Value of Stock—Definition. —Held further, the sales of the stock appearing to have been only such as the operators could induce their neighbors and acquaintances to take at low and varying rates, that such transactions did not give a market value to the stock. , Id.—Value of Stock—Evidence.—Held further, that the point in controversy was whether the stock had value as the mine then was, and that therefore the Court did not err in rejecting evidence as to what the ore might be made to yield by the erection of certain machinery.