6 Paige Ch. 254 | New York Court of Chancery | 1837
The bill in this cause, as well as the decree in the original suit, in which the. defendant and Tripp 'wpre both parties, shows that C. Crawford is primarily liable for the payment of the debt and costs decreed to be paid to the complainant. And this court has already decided that a creditor by decree in chanóery is entitled to the same relief against the equitable interests' and other property of his debtor, upon the return of an execution unsatisfied, as a creditor by a judgment at law. (Clarkson v. DePeyster, 3 Paige’s Rep. 320.) Neither is there any thing in the defendant’s affidavit to show that she ever had any equity as against Tripp, which could protect her against his claim for indemnity upon her covenants of warranty, in the conveyance to him# even if she is not estopped by the decree in the original suit, awarding .execution against her property in the first instance, from insisting that she was not primarily liable for the payment of the whole of the complainant’s debt and costs.
The law at the present day appears to be well settled that a false assertion by the vendor, merely as to the value of the property which he is about to sell, or as to the amount of its future income# where there is neither a warranty as to value, nor a misrepresentation of any fact respecting the property which is not a mere matter of opinion, forms no substantive ground for relief either at law or in equity. A naked assertion by the vendor as to the present or future value of property does not imply knowledge, but must necessarily be understood by-the purchaser as a mere matter of judgment or opinion; and upon a subject as to which the purchaser is generally supposed to be as competent to form a correct judgment as the vendor. 1 .will not attempt to defend the morality of a false assertion either by the seller or the buyer, in relation to his real opinion as to the value of property which is the subject of negotiation between them. It is sufficient to say the law presumes that each relies upon his own judgment and opinion as,to the value of property, rather than upon the opinion of the other party to the negotiation, where the facts upon which the value of the property depends are equally known to
The usual order for the appointment of a receiver must therefore be entered.-