Weaver v. Cone

Citations

• 174 Pa. 104
• 34 A. 551
• 1896 Pa. LEXIS 854

Syllabus

<p>Deceit — Fraud—Sale of stock — Evidence.</p> <p>In an action for deceit, it appeared that defendant was the owner of the controlling interest in the stock of a corporation. He sold over six hundred shares of the stock at $100 a share, and agreed with the purchaser to purchase for him the other shares at as low a figure as possible. Defendant sent a person to notify plaintiff who was the owner of stock that he, defendant, had sold his interest in the company. Plaintiff immediately called upon defendant who told him he got $80.00 for his stock, and went with him to the office of the purchaser who offered plaintiff $80.00 for his stock, which was accepted. Defendant admitted that he told plaintiff that he got $80.00 for his stock, but denied that he told him he got only $80.00 for it.</p> <p>The court instructed the jury in effect that if they found for the plaintiff they could not assess damages for a greater sum than the difference between the price he obtained for his stock, and the actual value of it. The court also charged “ it is for you to say, if you should find that the defendant did deceive the plaintiff willfully by a false statement, what damage he suffered. In other words, if he had not been deceived by the false statement by the defendant, how much more could he have realized on his stock.” Held, that the instruction was correct, that the case was for the jury, and that a verdict and judgment for plaintiff should not be disturbed.</p> <p>In an action to recover damages for a loss occasioned by a false representation of the defendant which induced the plaintiff to sell his stock in a corporation at less than its mai'ket value, the plaintiff may properly be asked what it was that induced him to sell his stock at the price which he did.</p>