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Jackson v. Seymour
Virginia Supreme Court
71 S.E.2d 181 (1952)
Jackson (plaintiff) sold her property to her brother, Seymour (defendant), for $275. Seymour had told Jackson that the land was of no value. The two were very close and Jackson relied on her brother and had “the utmost confidence in him.” At the time of the sale, neither party knew that the property actually contained valuable timber. Once Seymour, a successful businessman, realized this, he began selling the timber and in doing so ended up making over $2,300. Jackson brought suit, claiming fraud. Seymour admitted at trial that he would not have sold the land to Jackson at that price if he had known its value. The trial court found that no actual fraud existed, but did not reach a decision on constructive fraud. Jackson appealed.
Rule of Law
Holding and Reasoning (Eggleston, J.)
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