Gassett v. Glazier

• Decision Date: 11 March 1896
• Citation: 43 N.E. 193,165 Mass. 473
• Parties: GASSETT v. GLAZIER.
• Court: United States State Supreme Judicial Court of Massachusetts Supreme Court

165 Mass. 473

43 N.E. 193

GASSETT v. GLAZIER.

Supreme Judicial Court of Massachusetts, Suffolk.

March 11, 1896

Defendant answered by a general denial to the declaration, which was as follows:

"First count: And the plaintiff says that heretofore, to wit, in January and February, 1893, the defendant was the owner of certain shares of stock in the Mattison Drug Company, a corporation under the laws of the state of Maine, and the defendant was desirous that the plaintiff should purchase certain of said shares, and as inducement to the plaintiff to make such purchase the defendant offered to sell to the plaintiff one hundred (100) of said shares at the same price that he, the said defendant, had paid therefor; and the defendant represented to the plaintiff that he, the defendant, had paid for said shares the sum of fifty (50) dollars per share; and the plaintiff says that said representation of said defendant was false, and that the defendant had paid for said shares a much less sum, to wit a sum not exceeding twenty-three (23) dollars per share and that said defendant well knew that said representation was false, and made the same so knowing, and for the purpose and with the intention of deceiving and defrauding the plaintiff thereby, and intended that the plaintiff should be deceived thereby and should act thereon. And the plaintiff says that he was ignorant of the falsity of said representation, and believed the same to be true, and so believing, and by reason of such belief, purchased said one hundred (100) shares of the said defendant, and paid therefor the sum of five thousand (5,000) dollars, on the 27th day of February, 1893. And the plaintiff says that subsequently he learned the falsity of said representation, and thereupon, to wit, on the 10th day of March, 1893, tendered to the defendant a reconveyance of said shares so purchased, and demanded back said sum of five thousand (5,000) dollars, which reconveyance the defendant refused to accept, and refused to pay him said sum of five thousand (5,000) dollars, or any part thereof. And the plaintiff says the defendant owes him the sum of five thousand (5,000) dollars, and interest thereon from the 10th of March, 1893.

"Second count: And the plaintiff says that heretofore, to wit, in January and February, 1893, the defendant was the owner of certain other shares of stock in the Mattison Drug Company, a corporation under the laws of the state of Maine, and the defendant was desirous that the plaintiff should purchase certain of said shares, and as inducement to the plaintiff to make such purchase the defendant represented that theretofore he, the said defendant, had purchased from one E.F. Mattison a one-half (1/2) interest in the drug business of said Mattison, and had paid therefor the sum of twelve thousand five hundred (12,500) dollars; that thereafter said defendant and said Mattison had conveyed said business to said corporation, the Mattison Drug Company, for the capital stock of said corporation, viz. five hundred (500) shares of one hundred (100) dollars each, two hundred and fifty (250) shares of which was delivered to said defendant, and the remaining two hundred and fifty (250) shares to said Mattison. And the defendant thereupon offered to sell to the plaintiff one hundred (100) shares of stock in said corporation at the same price that he, the said defendant had given for the same, which price the said defendant represented, as above, was the sum of fifty (50) dollars per share. And the plaintiff says that said representation of the defendant as to the price that he had paid to said Mattison for the one-half (1/2) interest in said business was false and that the defendant had paid for said interest a much less sum, to wit, a sum not exceeding fifty-five hundred (5,500) dollars; that said defendant well knew that said representation was false, and made the same so knowing, and for the purpose and with the intention of deceiving and defrauding the plaintiff, and intended that the plaintiff should be deceived thereby and act thereon. And the plaintiff says that he was ignorant of the falsity of said representation, and believed the same to be true, and so believing, and by reason of such belief, purchased said one hundred (100) shares of the said defendant, and paid him therefor the sum of five thousand (5,000) dollars, on the 27th day of February, 1893. And the plaintiff says that subsequently he learned the falsity of said representation, and thereupon, to wit, on the 10th day of March, 1893, tendered to the defendant a reconveyance of said shares so purchased, and demanded back said sum of five thousand (5,000) dollars, which reconveyance the defendant refused to accept, and refused to pay him said sum of five thousand (5,000) dollars, or any part thereof. And the plaintiff says the defendant owes him the further sum of five thousand (5,000) dollars, and interest thereon from March 10, 1893.

"And the plaintiff says that the foregoing counts are not cumulative.

"Writ amended by adding the words 'or contract.' Declaration amended by adding third count (in contract): And the plaintiff says that heretofore, to wit, in January and February, 1893, the defendant was the owner of certain shares of stock in the Mattison Drug Company, a corporation under the laws of the state of Maine; and the defendant was desirous that the plaintiff should purchase certain of said shares, and as an inducement to the plaintiff to make such purchase the defendant promised the plaintiff that if he, the said plaintiff, would purchase one hundred shares of said stock from him, the said defendant, the defendant would sell said shares to him at the same price that he, the said defendant, had paid therefor, which price said defendant then represented was the sum of fifty (50) dollars per share. And the plaintiff says that, relying upon said promise of the defendant, the plaintiff purchased said one hundred shares and paid the defendant therefor the sum of five thousand (5,000) dollars, on the 27th day of February, 1893. And the plaintiff says that said representation of the defendant was false, in that the defendant had not paid for said shares the sum of fifty (50) dollars per share, but had paid therefor a much less sum, to wit, a sum not exceeding twenty-three (23) dollars per share, but the plaintiff was ignorant of the falsity of said representation, and believed the same to be true; and the defendant did not perform and has not performed his said promise to sell said shares to the plaintiff at the price which he, the said defendant, paid therefor, but sold said shares to the...