Morse v. Swits
New York Supreme Court
■ This action is brought against the defendants, who are president and cashier of the Mohawk Bank of Schenectady, to recover damages, which plaintiff alleges he has sustained by the false and fraudulent statement and report made and published by them of the condition and resources of the Mohawk Bank of Schenectady, as they existed on the 19th day of June, 1858, the plaintiff having, subsequent thereto, became the owner and purchaser of thirty-six shares of the stock of said…
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■ This action is brought against the defendants, who are president and cashier of the Mohawk Bank of Schenectady, to recover damages, which plaintiff alleges he has sustained by the false and fraudulent statement and report made and published by them of the condition and resources of the Mohawk Bank of Schenectady, as they existed on the 19th day of June, 1858, the plaintiff having, subsequent thereto, became the owner and purchaser of thirty-six shares of the stock of said bank, at its par value of fifty dollars, which he purchased upon the faith and relying upon the truth of said statement…
1Opinion of the Court
By the court—Gould, Justice.
I think the tendency of all the later decisions in this country and in England, is in favor of extending the liability of every one who makes a public representation which he knows to he false, and upon faith in which any one has been led into a business transaction, whereby he suffers .damage. I do not understand that it is at all necessary to the right of action that the representations should have been intended for the party sustaining the loss, or in any way addressed to him. If it be made openly and publicly, so that it might well come to his ears, and if it…
2Cases cited5 opinions
- Upton v. VailNew York Supreme Court · 1810
- Barney v. DeweyNew York Supreme Court · 1816
- Allen v. AddingtonNew York Supreme Court · 1831
- Gallager v. BrunelNew York Supreme Court · 1826
- Williams v. WoodNew York Supreme Court · 1835
3Cited by8 opinions
- Warfield v. ClarkSupreme Court of Iowa · 1902
- Barber v. MorganNew York Supreme Court · 1867
- Parsons v. JohnsonAppellate Division of the Supreme Court of the State of New York · 1898
- Greene v. Mercantile Trust Co.New York Supreme Court · 1908
- Parsons v. JohnsonAppellate Division of the Supreme Court of the State of New York · 1898
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