Neill v. Shamburg

Citations

• 158 Pa. 263
• 27 A. 992
• 1893 Pa. LEXIS 1575

Syllabus

<p>Sale of oil lease — Inadequacy of price — Equity.</p> <p>A bill in equity to set aside the sale of an oil lease on the ground of inadequacy of price will not be sustained, where it appears that at the time of the sale the land was not developed, and the greate.r number of witnesses as well as the weight of their testimony showed that the lease was worth nothing beyond the royalty, and the consideration was therefore sufficient.</p> <p>Fraud — Goncealment of facts — Sale.</p> <p>A person about to purchase an oil lease is not bound to disclose to his vendor facts in regard to the production of oil upon a neighboring leasehold which he owns, and the failure to disclose such facts is not fraud. Unless exceptional circumstances create a duty to speak, it is the right of every man to keep his business to himself.</p> <p>Partnership — Tenants in common — Presumption.</p> <p>No presumption of partnership arises from the operation of an oil well by tenants in common.</p> <p>Tenants in common — Mortgage—Confidential relationship.</p> <p>A tenant in common mortgaged his interest to his cotenant to indemnify him against a contingent loss by having to pay a guaranty to third persons. After the mortgage was executed the moi'tgagor sold and conveyed the mortgaged premises to the mortgagee. Held, that there was no such confidential relation between the parties as required the mortgagee to disclose to the mortgagor the facts concerning the production of oil on a neighboring leasehold owned by the mortgagee.</p>