McLean v. Clapp

Citations

• 141 U.S. 429
• 12 S. Ct. 29
• 35 L. Ed. 804
• 1891 U.S. LEXIS 2532

Syllabus

<p>Grymes v. Sanders, 93 U. S. 55, affirmed and applied to the point that where a party, desires to rescind a contract upon the ground of mistake or fraud, he must, upon discovery of the facts, at once announce his purpose and adhere to it, and that if he be silent, and continue to treat the property as his own, he will be held to have waived the objection; and will be conclusively bound by the contract, as if the mistake or fraud had not occurred.</p> <p>A holder of the legal title to real estate who has no equitable interest therein, cannot, by his act done without the knowledge or consent of the holder of the equitable title, who is in possession of and residing on the premises, claiming title, rescind a completed settlement of a mortgage debt on the premises so as to bind the holder of the equitable title, and . prevent him from setting up defences which would otherwise be open to him.</p>