The American Reports, Containing All Decisions of General Interest Decided in the Courts of Last Resort of the Several States Volume 15
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1875 edition. Excerpt: ...of, and on which he might, without imputation of negligence, rely, and upon discovering it to be false and fraudulent, maintain an action." In Sandford v. Handy, 23 Wend. 269. NELSON, C. J., said, arguendo, "The price which an article is bringing in t-he market is often a material fact, and a fraudulent representation. by a person who has peculiar means of knowledge, has been held to invalidate the contract." In C-ronk v. Cole, 10 Ind. 485, it was held that a party to a sale has no right to rely on the representations of another as to the market value of the article sold. it being presumed to be equally within the means of knowledge of both. The general rule undoubtedly is, as expressed by FIELD, J., in Slaughter v. Gerxon, 13 Wall. 379, that where the means of knowledge are at hand and are equally available to both parties, and the subject of purchase is alike open to their inspection, if the purchaser does not avail himself of those means and opportunities he will not be heard to say that he was deceived by the vendor's misrepresentations. But there is great force as well as great justice in the remark of PORTER, J., in Mead v. Bmm, 32 N. Y. 281: " Every contracting party has an absolute right to rely on the express statement of an existing fact, the truth of which is known to the opposite party and unknown to him, as the basis of a mutual engagement; and he is under no obligation to investigate and verify statements, to the truth of which the other party to the contract, with full means of knowledge, has deliberately pledged his faith." And in Ferrler v. Peacock, 2 F. &. F. 717, it was held that the mere possession by a purchaser of the means of knowledge does not prevent the vendor's liability for a false...
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