Harvey v. Knapp

Citations

• 194 Pa. 219
• 45 A. 74
• 1899 Pa. LEXIS 764

Syllabus

<p>Deed — Rescission—Fraud—Stock.</p> <p>A deed for land executed in consideration of the stock of a corporation will not be rescinded where it appears that the defendant represented that a situation in the corporation would afford favorable employment to plaintiff’s husband, and that the holding of the stock would increase his chances of getting such position, but that he made no misrepresentation of any existing fact, nor gave any promise to procure a situation for plaintiff’s husband.</p> <p>A deed given in exchange for stock of a corporation will not be rescinded on the ground that the defendant wrongfully stated that he had paid a certain amount per share for the stock, where the evidence shows that he had received the stock in exchange for an interest in a limited partnership association, and there is no evidence to show how much money he had put into the original limited company.</p>