Andrew D. Meloy & Co. v. Donnelly

Citations

• 119 F. 456
• 1902 U.S. App. LEXIS 5289

Syllabus

<p>1. Conspiracy—Fraud—Complaint.</p> <p>A complaint for conspiracy alleged that defendants jointly confederated to fraudulently induce plaintiff to exchange stock for certain real estate belonging to one of the defendants; that three of the defendants, who ostensibly acted as plaintiff’s agents, in fact represented the real estate owner, and fraudulently stated to plaintiff that the land was worth $48,800, and that two other defendants were conservative appraisers, acquainted with the property, who would appraise the same; that such defendants executed a written appraisement valuing the property at such sum, though it was not worth more than a third thereof, with intent to deceive and defraud plaintiff, and that representations of the owner as to a reason for selling were substantiated, defendants, ostensibly acting as plaintiff’s agents, intending to induce plaintiff not to make an investigation of the value of the property, by reason whereof, plaintiff exchanged the stock for the, property without such examination; and that the owner’s agent received 600 shares thereof as his share of the profits of such conspiracy. Held, that the complaint was not demurrable, as against any of the defendants, on the ground that the fraud alleged was a mere expression of opinion as to value.</p>