Nature of the Case
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Facts
P and D contracted for D to purchase stocks and bonds in Newburyport Cordage Company. The stocks and bonds were the means by which to convey control of land with a factory and machinery. There is no controversy that the contract was made. During negotiations, P represented that a right of way, which was a substantial factor of value in the real estate, was owned by the Company and could not be interfered with. This representation was untrue. P did not know that it was untrue. D relied upon it and would not have signed the contract if he had known that it was false. P sued D to enforce the contract and D defended in that he was induced to sign by such false representations by P and that released him from an obligation to perform.
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