38 Iowa 663 | Iowa | 1874
— The petition charges that, in 1869, defendant James McAdam, entered into a written contract to convey to plaintiff a certain small tract of land situate adjacent to the Burlington & Missouri River Railroad, and a right of way over certain lands for a tram road to a coal mine. The land, as well as the right of way, was for the use of plaintiff in the prosecution of its business of mining coal. In payment for the property, plaintiff was to issue to defendant 'its stock to the amount of $1,000. Plaintiff, in performance of its 'obligation, issued to defendant the stock and has been in possession of the land and right of way under the contract. The contract provides that in case defendant, after the expiration of two years, should desire to dispose of the stock, plaintiff is to pay him $1,000 therefor. The petition alleged that defendants refuse to execute the conveyance provided for by the contract. The
The answer of defendant admits the execution of the con-contract, but avers that it was procured by misrepresentation and fraud on the part of plaintiff’s agents, whereby defendant, James McAdam, was deceived and induced to sign the same, and that the value of the property is greatly above the price agreed to be paid, so much so as to render the contract unconscionable. The answer does not deny the receipt of the stock, its value, nor show that plaintiff* has, in any way, failed to comply with its contract.
Many questions in regard to the admission and exclusion of evidence, are made and argued by counsel for plaintiff. They need not be further noticed, as the exclusion of all the evidence, to which objections are made, would not change our conclusion.
The decree of the District Court is
Affirmed.