Kelly-Wood Real Estate Co. v. Lloyd

Citations

• 50 Pa. Super. 393
• 1912 Pa. Super. LEXIS 62

Syllabus

<p>Affidavit of defense — Promissory note — Representations as to rental value of real estate.</p> <p>In an action upon a promissory note, it appeared that the plaintiff, a real estate brokerage company, received the note from the defendant in settlement of a real estate commission in an exchange of real estate. The defendant filed an affidavit of defense in which he averred that while negotiations for the trade were under way plaintiff represented to defendant that the building to be taken by the latter was rented at upwards of $3,000 per year, specifying the rentals for each of the rooms and apartments; that after the trade was consummated and the note delivered he discovered that “said building was not rented as represented, but that some of the tenants occupied the building without paying any rent, and the entire annual revenue from said building amounted to much less than the sum represented by plaintiff; that the first floor, containing the storeroom brought in no revenue at all.” He further averred that the said premises were actually worth $5,000 less than if the rentals had been as represented, that therefore by plaintiff’s breach of faith and misrepresentations defendant suffered damages in the sum of $5,000. Held, that the affidavit of defense was insufficient to prevent judgment.</p>