Latham's Executors & Heirs v. Morrow
Court of Appeals of Kentucky
Appeal from the Botjrbon Circuit. Chancery. Case 145. l'he employment Of, and bidding by a by-bidder, is not always a Sufficient ground to rescind^ the contract; it is entitled to but little weight where the price is not exhorbitant, and there has been, a long acquiescence by the purchaser. The question whether it is a ground in any case, to rescind because one by-bidder was employed to prevent a sacrifice, left undecided. The derivation of title made out by vendor not good.
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Appeal from the Botjrbon Circuit. Chancery. Case 145. l'he employment Of, and bidding by a by-bidder, is not always a Sufficient ground to rescind^ the contract; it is entitled to but little weight where the price is not exhorbitant, and there has been, a long acquiescence by the purchaser. The question whether it is a ground in any case, to rescind because one by-bidder was employed to prevent a sacrifice, left undecided. The derivation of title made out by vendor not good. The Court below having decided, the case'expresslv on the alledgged fraud and not on the validity of the title offered…
1Opinion of the Court
Judge Marshall
delivered the opinion of the Court.
We do not concur in the opinion of the Circuit Court, that the contract in this case should be rescinded, on the ground of fraud in the sale, alledgedto have consisted in the secret employment by Latham, of a by-bidder, who is charged to have run up the land higher than it would otherwise have gone, and to an exhorbitant price.- The price bid, although high, was not exhorbitant, nor as we feel authorized by (lie facts to assume,, was., it above the fair value of the land, as estimated at tlie.'time, -by the purchasers themselves, as well as by…
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