Moore v. Beakley
| Decision Date | 19 November 1919 |
| Docket Number | (No. 102-2938.) |
| Citation | 215 S.W. 957 |
| Parties | MOORE et ux. v. BEAKLEY. |
| Court | Texas Supreme Court |
Action by W. C. Moore and wife against S. S. Beakley. There was a judgment for defendant, which was affirmed by the Court of Civil Appeals (183 S. W. 380), and the plaintiffs bring error. Reversed and remanded.
W. W. King, of San Antonio, for plaintiffs in error.
Boyle & Storey and West & McMillan, all of San Antonio, for defendant in error.
This is an action in damages for false representations made in the exchange of properties. The plaintiffs, W. C. Moore and wife, alleged in their petition that they conveyed certain lots in the city of San Antonio, Tex., to the defendant, Beakley, in exchange for 13 mortgage bonds issued by the Texas Baptist University of the face value of $100 each, and other property not necessary to describe; that defendant represented to plaintiffs that the bonds were secured by a first mortgage on all of the property of the University; that in truth there were prior liens against the property, greatly in excess of its value, and the bonds were wholly worthless; that said false representations were fraudulently made for the purpose of inducing plaintiffs to enter into the contract of exchange, and that they would not have entered into said contract but for said representations. Plaintiffs sought a recovery in damages in the sum of $1,300. Defendant denied the material allegations in the petition. The trial court, after hearing the evidence, instructed the jury to return a verdict for defendant, and the judgment entered thereon was affirmed by the Court of Civil Appeals. 183 S. W. 380.
The facts, briefly stated, show that R. H. Howard was the agent of plaintiffs. In the prosecution of his agency he succeeded in obtaining from defendant an agreement to make an exchange of properties, whereby the defendant was to receive lots Nos. 713 and 717, in block 375, in the city of San Antonio, Tex., and was to give in exchange therefor two lots, of the estimated value of $2,000, 13 bonds issued by the Texas Baptist University of Dallas, Tex., of the par value of $100 each, pay to plaintiffs $1,700 in cash, and execute his five vendor's lien notes in the sum of $1,000 each. The trade was consummated as indicated, the necessary deeds and notes were executed, and the 13 bonds were delivered to plaintiffs. The bonds purported upon their face to belong to a series of similar bonds numbered from 1 to 400, inclusive, amounting in the aggregate to $40,000, secured by a mortgage or deed of trust on all of the property, real and personal, owned by the Texas Baptist University. On each of the bonds was the following indorsement: "The Texas Baptist University First Mortgage Bond." The defendant represented in the negotiations leading up to the trade that the property of the University was worth $150,000, and that there was no other lien against it, and gave the name of a party with whom plaintiffs could communicate to verify the statement. The plaintiffs had ample time to communicate with the party named before the trade was finally consummated, but made on effort to do so. Moore testified that in making the contract he relied upon the statements and representations made by the defendant concerning the bonds. The trade was closed on September 19, 1910. Plaintiffs discovered in June, 1911, that there were prior unsatisfied liens, to that securing the bonds against the property, greatly in excess of its value, and that the bonds were in fact worthless. The property of the university was later sold to satisfy the prior liens, and nothing remained to pay on the bonds.
The Court of Civil Appeals sustained the action of the trial court in withdrawing the case from the jury, upon two grounds: (1) That the plaintiffs had ample time and opportunity to investigate and learn the truth concerning the bonds before the trade was consummated; (2) that the evidence failed to show that plaintiff suffered any actual damages by reason of the false...
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