Davis v. Heard

Citations

• 44 Miss. 50

Syllabus

<p>1. Vendoe and vendee — Fhauddlent- • mxseepbesentations — Rescission.—H. being a non-resident of this state, purchased lands of N., in Carroll county» for $13,400, and gave his three promissory notes, ono for $6,700, due 1st Eebrúary’ 1860, the others for $3,350 each, payable on the 15 th January, 1861, and 15th January, 1862 ; the first note was paid at maturity. H. being at the time unacquainted with the lands, relied upon the representations of N. as to the title and boundaries thereof; and which he afterwards learned were fraudulent and untrue; the lines shown to him by N. comprehending valuable lands which did not belong to the tract, and wore not within the true boundaries of the land purchased. N. further represented that certain rich bottom land, well timbered, belonged to the tract, but which was not true. It further appeared that the tract, alter deducting the cleared and wood land to which H. got no title, the balance was worth not more than $7,000. Held: That H. was entitled to a decree, rescinding the contract of sale,' and ordering that the two notes for tho unpaid purriiase money be given up to be canceled; also, to rocover the amount of tho purchase money paid, interest, etc., with 6 per cent, interest on the whole amount from data of decree; that the same bo a lien upon oaidland; and to havo an injunction restrai-ing said N. from selling said lands until said decree be satisfied.</p> <p>2. Same. — The rule is well settled that if a vendor misrepresents a material fact in relation to title or quantity of an estate, though innocently and under a belief of its truth, or if he conceals any material circumstance, concealment of which would likely enhance the value of tho property in the estimation of tho purchaser, or if the contract is entire, and the portion lost is essential to the perfect enjoyment of the remainder in the manner intended, tho contract should be rescinded.</p> <p>3. Vendos and vendee — Defect in quantity op consideeation. — If, in