Lawson v. Floyd

Citations

• 124 U.S. 108
• 8 S. Ct. 409
• 31 L. Ed. 347
• 1888 U.S. LEXIS 1840

Syllabus

<p>In 1857 F. and L. entered into an agreement whereby F. was to convey to L. two tracts of land at an assumed value of $26,000, on which was an indebtedness estimated at about $18,000. L. was to assume and pay that indebtedness, and was to convey to F. “ five town lots” and “ about 1000 acres of land,” “ being all the lands owned by said L.” at that place, all valued at $10,000; and F. was to pay to L. what might be found due on these assumed values after adjusting the indebtedness. Each party took possession of the lands acquired by the exchange. F. conveyed to L. and Ij. assumed and paid- the indebtedness. L. retained title of the lands to be conveyed to F. until F. should pay the difference. In 1871, the amount being unpaid, L. brought suit against F. and J. to whom F. liad ''onveyed a portion of the land. This suit was compromised by a further agreement in which the tract was described as land “ sold by said ■L. to said F. estimated to contain 1000 acres.” On a survey had after that compromise it uvas found that the tract in question fell much short of 1000 aeres. F. filed this bill in 1877, seeking, among other things, to prevent the collection of the difference found due to L. in the original exchange, on the ground that the contract was for a conveyance of 1000 acres, and that the representations of, L. in this respect had been false and fraudulent. Held:</p> <p>(1) That, taken in connection with all the facts proved, L.’s representation could not be regarded as fraudulently made;</p> <p>(2) That, the governing element in the transaction being that it was an exchange of several tracts of land between the parties, the contract was not to be construed by the strict rule which might govern its interpretation if it were an independent purchase to be paid for in money;</p> <p>•(<$) That, thus construed, it was not an agreement by L. that the trac.i contained 1000 acres, which bound him to make good the difference between 1000 acres and the quantity found within t