Summary

Portrait of Philip Pendleton Barbour Philip Pendleton Barbour Smith v. Richards — Opinion of the Court

They rest upon the ground that the party selling property must be presumed to know whether the representation which he makes of it is true of false. If he knows it to be false, that is fraud of the most positive kind; but if he does not know it, then it can only be from gross negligence: and in contemplation of a Court of equity, representations founded on mistake, resulting from such negligence, is fraud.
Source: Wikisource

Portrait of Philip Pendleton Barbour Philip Pendleton Barbour Smith v. Richards — Opinion of the Court

In the first place, it must be of matters of fact; and it has been argued by the appellant's counsel, that the letter of the 21st of January, 1833, did not profess to state matters of fact, but to express opinions. It is certainly true, that matters of opinion between parties dealing on equal terms, although falsely stated, are not relieved against; because they are not presumed to mislead, or influence the other party, when each has equal means of information. But we consider the representation in this case not the expression of opinion, but the statement of facts.
Source: Wikisource

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