Editing Buyers v. Federal Land Co.

From wikilawschool.net. Wiki Law School does not provide legal advice. For educational purposes only.
Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.

The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then publish the changes below to finish undoing the edit.

Latest revision Your text
Line 5: Line 5:
|subject=Contracts
|subject=Contracts
}}
}}
'''Facts''':


The plaintiff agreed to buy from the defendant 320 acres of land in Wyoming. He agreed to pay $2,800 in cash, and a balance of $8,400 plus interest over a period of 25 years. The defendant agreed to convey the land to the plaintiff after the contract had been fulfilled. The defendant did not actually own the land, and the plaintiff claimed to have relied upon this misrepresentation to his detriment. He was to also lease the land from the plaintiff. Also, the plaintiff was told by a broker acting as an agent for the defendant that the land was worth $35 per acre. The plaintiff had not seen the land prior to the contract. Once the plaintiff found the land was worth about $15 per acre and the defendant did not actually own the land, he filed this suit.




'''Holding/Decision''':
'''Relevant Facts'''The plaintiff agreed to buy from the defendant 320 acres of land in Wyoming. He agreed to pay $2,800 in cash, and a balance of $8,400 plus interest over a period of 25 years. The defendant agreed to convey the land to the plaintiff after the contract had been fulfilled. The defendant did not actually own the land, and the plaintiff claimed to have relied upon this misrepresentation to his detriment. He was to also lease the land from the plaintiff. Also, the plaintiff was told by a broker acting as an agent for the defendant that the land was worth $35 per acre. The plaintiff had not seen the land prior to the contract. Once the plaintiff found the land was worth about $15 per acre and the defendant did not actually own the land, he filed this suit.'''''''''Holding/Decision'''Remanded the case with directions to enter a decree for the plaintiff.'''Rules'''An honest opinion as to the monetary value of property, stated as an opinion is not a fraudulent misrepresentation.When a misrepresentation is material and the promisee relies on the misrepresentation to his detriment, the contract is rescindable.
 
Remanded the case with directions to enter a decree for the plaintiff.
 
 
'''Rules''':
 
An honest opinion as to the monetary value of property, stated as an opinion is not a fraudulent misrepresentation.When a misrepresentation is material and the promisee relies on the misrepresentation to his detriment, the contract is rescindable.
Please note that all contributions to Wiki Law School are considered to be released under the Creative Commons Attribution-Sharealike 3.0 Unported License (see Wiki Law School:Copyrights for details). If you do not want your writing to be edited mercilessly and redistributed at will, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource. Do not submit copyrighted work without permission!
Cancel Editing help (opens in new window)

Templates used on this page:

Retrieved from "https://www.wikilawschool.net/wiki/Buyers_v._Federal_Land_Co."