Sammis v. Matthews
Sammis v. Matthews
Opinion of the Court
delivered the opinion of the court:
This case arises upon demurrer sustained to appellant’s amended bill, a previous demurrer having been sustained to the original bill.
The foundation of the suit is a transaction occurring on the 11th of April, A: D. 1878, between the appellant and a corporation known as the “ Florida Winter Home Association.” On that day the appellant made a deed in fee simple absolute to the association named, containing one hundred and thirteen acres of land. In this deed there is no agreement or limitation as to its use, or the purpose to which the land was to be appropriated. Plaintiff alleges that it was agreed before the execution of the deed that the corporation should pay for the land $10,000 in cash; that as an inducement to sell the land the association agreed and contracted to divide the land into lots to establish “ a social community,” with religious, social and educational advantages, to build school-houses and churches, and to keep up a ferry-boat to run from the land sold to the city of Jacksonville, for the convenience of the settlers on the land and of all persons residing in the neighborhood of the place ; that he, with his family, should have “ transportation free on said steamboatthat he was the owner of property adjoining this land, and that the agreement to do all these things was an inducement and consideration for his contract and deed.
Plaintiff then alleges that when the deed was executed the company did not pay in cash the $10,000; that instead thereof it paid $5,000 cash and gave a mortgage on the land for the remaining $5,000. He then states, and this seems to be the equity that he relies on, that at that time he was greatly in need of money; that this was known to the corporation, and that he was forced and compelled
Plaintiff connects the defendant with these conceived wrongs of the corporation by alleging that he was the officer of the corporation with whom the negotiation which was consummated by the deed was had, and that he had notice of his equities in this behalf. Plaintiff alleges further that when the mortgage for $5,000 became due, the defendant-representing the association proposed to take it up, positively refusing, however, to pay the full amount thereof by three hundred dollars, alleging that the tract of land conveyed did not embrace all of the land intended and bargained to be conveyed by two or three acres, which plaintiff" alleges he had sold long before the transaction between him and the corporation, and that defendant knew such to be the fact. Plaintiff" alleges that he insisted upon full payment, denied any agreement to sell the two acres, and that the association had gotten all' the land called for by the deed ; that defendant persisted in his refusal to pay the $5,000 and interest, and “ knowing your orator’s necessities, who was greatly in want of money at said time, forced and compelled your orator to accept the said sum of $4,700, and to deliver up the mortgage to the defendant, your orator-doing so reluctantly and giving said defendant notice then and there that whenever your orator could properly do so he would collect said deficiency, to-wit: “ The three hundred dollars, principal and interest, due on said mortgage.” Plaintiff alleges further that acting under this compulsion he assigned the said mortgage
A demurrer to this amended bill was sustained and the bill dismissed. Erom this action of the court this appeal is taken. We think the decree of the court eminently proper.
Whatever may have been the right of this plaintiff, and we think he had none, to have insisted upon incorporating alleged contemporary verbal conditions as to the future use of the land embraced in his warranty deed in fee simple absolute to this corporation and to recover damages for its alleged non-performance, instead of rescinding the contract, as against the corporation, it is immaterial to inquire. His suit here is against this defendant, his assignee of the mortgage with all of his rights under it. He does not allege that he at that time claimed any further or future rights in the premises. On the contrary he admits that he presented the mortgage that it might be taken up and satisfied, and the only objection which he makes that could be available in his behalf as against this defendant is that his act in accepting $4,700 instead of $5,000, the amount of the mortgage assigned, resulted from his want of money at the time, and he seeks not to rescind the contract so far as it benefited him but to keep the $4,700 which he agreed to take and did take, and to force the defendant to pay $300 which the defendant not only refused to pay but which he, the plain
The compromise or sale here is not unusual or oppressive. There is neither fraudulent advantage or imposition. There is no act through fear of death or mayhem, and there is no illegal restraint of liberty. Even the extent to which he wanted money is not alleged. His allegation is: “ And knowing (meaning thereby that the defendant knew) your orator’s necessities, who was greatly in want of money at said time, forced and compelled your orator to accept the said sum of forty-seven hundred dollars and to deliver up the said mortgage to him, the said defendant, your orator doing so reluctantly.” A transfer of a security for less than its face value because made reluctantly and when one is greatly in want of money is not a ground upon which a court of equity will decree payment of the difference between tbe face value of the security and the sum received for it. This is all there is in this matter.
The claim for the use of jackscrews and blocks is a matter for which the remedy is at law.
The defendant, for the reasons stated, was under no obligation to carry out the company’s alleged contract as to the one-quarter of an acre of land. Ho such condition accompanied the assignment.
This disposes of the case.
Decree affirmed.
Reference
- Full Case Name
- John S. Sammis v. William Matthews
- Status
- Published
- Syllabus
- 1. A., the purchaser of a tract of laud, pays one-half of the purchase-money and gives a mortgage to secure the balance to B., the vendor. B., the original vendor and mortgagee of A., sells and assigns the mortgage unconditionally to C. O. takes it independent of any verbal conditions attending the original sale by A. to B., so far as they were for the benefit of B. 2. A sale of a security for less than its face value will not be set aside because made reluctantly and when one is greatly in want of money, the sale not being unusual or oppressive, there being no fraudulent advantage, imposition, or illegal restraint or duress.