Sec. 286. Promises And False Representations (P. 299)

A representation which constitutes a promise to do something in the future, does not constitute fraud.7

After "Adams v. Gillig" cited on page 299, add:

Affirmed, 199 N. Y. 314; 92 N. E. 670 (1910).

Sec. 287. Opinions; Expressions Of Value (P. 300)

"No action will lie for a false representation by the vendor concerning the value of the thing sold; it being deemed the folly of the purchaser to credit the assertion. And besides, value is matter of judgment and estimation, about which men may differ."8

There can be no recovery based on any representation, even though fraudulently made, with respect to the value of the property.9

Sec. 289. Opinions Amounting To Affirmations Of Fact (P. 301) '

That a misrepresentation of value is not fraud does not apply where the representations were intended to be taken as a fact, and the parties did not have equal opportunity to know the truth.10

Add to footnote 27 (p. 302):

Krankowski v. Knapp, 268 111. 183; 108 N. E. 1006 (1915).

Sec. 291. When Expression Of Opinion Is Fraudulent (P. 303)

At end of Sec. 291 (p. 304), add:

Where the value of the property is peculiarly within the knowledge of the person making the representations, and the relationship of the parties is such that the one imposed upon had the right to trust and confide in the statements of the other, the representations as to value may properly be regarded as statements of fact and not merely an opinion.11

7 Creighton v. Campbell, 27 Colo. App. 120; 149 Pac. 448 (1915); Harriage v. Daley, 180 S. W. 333 (Ark. 1915), Ensign v. Lehmann, 192 111. App. 578 (1915).

8 Van Epps v. Harrison, 5 Hill (N. Y.) 63 (1843).

9 Mecum v. Mooyer, 166 App. Div. 793, 801; 152 N. Y. Suppl. 385 (1915); Van Slcchem v. Villard, 207 N. Y. 587; 101 N. E. 467; Bennett Savgs. Bk. v. Smith, 152 N. W. (Iowa) 59 (1915); Buresh v. Seymour, 187 111. App. 295 (1915); Garrett v. Green, (Tex. Civ. App.) 164 S. W. 1105 (1914). Cf. Moon v. Benson (Ala. App.) 68 So. 589 (1915); Rodee v. Seaman, 145 N. W. (S. D.) 441 (1914).

10 Van Vilet Co. v. Crowell, 149 N. \V. (Iowa) 861 (1915).

And the inexperience of the one imposed upon, and the relationship of the parties, may even excuse the complainant in failing to make further inquiry into the matter.12

11 Murphy v. Murphv, 78 Misc. 178: 137 N. Y. Suppl. 872 (1912); citing Simar v. ( Canaday, S3 N. Y. 298; 13 Am. Rep. 523; Daiker v. Strelinger, 28 App. Div. 220; SO N. Y. Suppl. 1074.

"Murphy v. Murphy, supra, citing Eaton v. Avery, 83 N. Y. 31; 38 Am. Rep. 389; Clark v. Rankin, 46 Barb. (N. Y.) 570; 20 Cyc. 126; Hall v. Perkins, 3 Wend. 627.