Alberda v. Smith

Plaintiffs were the owners of the furniture and furnishings of a hotel in Madera. Defendant Grim was a real estate broker in Chowehilla. Smith was a salesman employed by him, and the Union Indemnity Company, a corporation, furnished the surety bond for Grim, as required by law.

Through defendants Grim and Smith an exchange was effected whereby the furnishings of the hotel were exchanged for a forty-acre tract of farm land near Chowehilla. The agreement, necessary for a better understanding of the issues, is in the following language:

“Agreement to Exchange Real Property.

“It is agreed that I, C.…