31 Wis. 474 | Wis. | 1872
This action was brought to recover back five hundred dollars, tbe amount which tbe plaintiff subscribed and paid for an interest in an oil well. These parties, with many others, were subscribers to a fund raised for tbe purpose of buying oil lands, and tbe defendant was appointed on tbe committee to go to Yirginia and examine some oil lands which tbe subscribers bad thought of purchasing of one Brown. Tbe committee did not purchase tbe Brown lands, but got tbe refusal of another piece of property, called tbe Atwater well. Tbe committee reported, at a meeting of tbe subscribers, that they bad been offered one-twentieth of tbe well for $15,000 ; and, upon tbe assumption that this interest would cost that amount,
Assuming, for the purposes of this case, that the plaintiff would not have subscribed and paid over the $500, had he known the whole truth in regard to the first proposition, and the agreement by the vendor to pay this bonus to the commit tee, still we are satisfied that upon the facts disclosed in the evidence there can be no recovery. Eor the plaintiff was informed of all the material facts relating to that transaction immediately after the defendant and the other' members of the committee returned from making the purchase, and still he chose to retain his interest and take his chances on the success of the speculation. When the committee reported that they had made the purchase for $10,000, the basis was changed, and the plaintiff retained his share. He not only concluded to retain his share, but he'continued to co-operate with his associates in the prosecution of the enterprise and in the management of the oil property, for three years thereafter. The subscribers were organized into a company, and the plaintiff voted at their meetings, acted as director, enjoyed the benefits of the business, received his share of the oil dividends, and participated in the business all the way through, until the golden bubble burst, leaving nothing but disappointment and loss. And now he seeks to recover back from the defendant the
By the Court.— Judgment affirmed.