Degraw v. . Elmore
New York Court of Appeals
Appeal from judgment ef the General Term of the Supreme Court in the second judicial department, affirming a judgment in favor of plaintiff entered upon a verdict. The action was brought to recover moneys alleged to have been paid defendant upon a purchase of certain stock of the Mahony Coal Company, which purchase was induced by fraudulent representations upon the part of defendant.
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Appeal from judgment ef the General Term of the Supreme Court in the second judicial department, affirming a judgment in favor of plaintiff entered upon a verdict. The action was brought to recover moneys alleged to have been paid defendant upon a purchase of certain stock of the Mahony Coal Company, which purchase was induced by fraudulent representations upon the part of defendant. The complaint set up the purchase and payment for the stock, the fraudulent representations, the tender of the stocks upon discovery of the fraud and demand of the purchase-money, and the refusal of defendant to…
1Opinion of the CourtGrover, J.
The remedy of a party claiming that a fraud has been practiced by which he has been induced to enter into a contract, is so thoroughly settled, that the mere statement is sufficient. He has his election upon the discovery of the fraud either to affirm the contract and bring an action for the recovery of the damages sustained by him, or to disaffirm the contract, restore to the other party all he had received under it, and demand and recover from him all he has parted with in pursuance of the contract. In case the latter remedy is adopted and the fraud is established, the contract is…
2Cited by31 opinions
- Barnes v. . QuigleyNew York Court of Appeals · 1874
- Hays v. CarrIndiana Supreme Court · 1882
- Neudecker v. . KohlbergNew York Court of Appeals · 1880
- Wilson v. Haley Live Stock Co.Supreme Court of the United States · 1894
- Sumner v. RogersSupreme Court of Missouri · 1886
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