76 Iowa 11 | Iowa | 1888
— The question presented by this appeal is whether the evidence introduced by the plaintiff was sufficient to warrant a jury in finding a verdict for him. In other words, was there such a want of evidence of fraud, practiced by the defendant, as to authorize the court to interfere, and direct the jury to find a verdict for the defendant % It appears from the evidence that one A. W. Bronson was, at the time of the transaction complained of, the secretary and general manager of the defendant company. The plaintiff was seeking the investment of his money, and had taken some mortgage loans of the defendant. Wellman made a written application to Bronson for the loan. Upon its face this application is in due form; all of the answers to questions appear to be fairly and honestly made; and Wellman, who made answers to the questions, was duly sworn to the application by said Bronson, who was a notary public. One of the questions, and the answer thereto, in the application, is as follows : “What is the cash value of the land per acre \ A. Thirty dollars.” All of the other questions and answers as to the improvements, the number of acres in cultivation, etc., indicate that the farm wras a desirable tract of land, and that it was first-class security for a loan of eight hundred dollars. The evidence tended to show that the plaintiff took the loan upon the faith of this application, and the representation of the vice-president of the defendant company that the land was good land;
Wellman, who; made the application for the loan, was a witness upon the' trial for the plaintiff. He testi-. tied in his examination in chief to the value of the land as follows: “I think Bronson inquired how-we-would appraise the land ; and, as I applied for' an eight hun-. dred dollar loan, and wanted that much on the .land, it had to be appraised at about thirty dollars an acre. He told me, and we talked the matter over, and they wanted to know what it would be worth at the expiration of the loan. I told them I supposed it would be worth as much as land in eastern Iowa now is in five years. He said that was á good way. to appraise.it. Thirty, dollars an acre-was put in the application as an estimate of what the land would be worth in five years from that .time. Mr. Bronson had my word at that time as to what, this land had actually cost. He might have had other information. I explained to Mr. Bronson that my brother and I were in partnership,, and .that he (my brother) held the title; but I had purchased this land of my brother, and had to make this; loan to pay ■ for it. I told Bronson .my brother had paid four
Reversed.