Samuel Blatchford

“ On these facts, it is held that when the market price of the rails has fallen to one-half of the contract price, the company can insist on compelling Wheeler & Co. to take the rails at the contract price, because the company then chooses to turn around and say: 'The ton was and is 2,240 pounds. We were wrong all the time, and you were right; and we now reply to your letter, by saying that we did committan 'oversight' in our resolution, as you suggested.'
We can sanction no such view of the rights of the parties to a commercial transaction. ”

“ The actual ground of recovery by the company in this case is based on proof of the untruth of the assertions made by the company, followed by the proposition the Wheeler & Co. had no right to believe and rely on those assertions. Every element exists to estop the company from denying the truth of those assertions, and from insisting that Wheeler & Co. ”

“ When Wheeler & Co. received Murchie's letter inclosing a copy of the resolution of the board, their letter of reply of February 28, 1880, states their understanding to be that the sale was not made subject to approval by the railroad company, and that the ton was 2,240 pounds, and that they look for the delivery of the rails in gross and not net tons. But the resolution of the board expressed the contrary view, as to the ton, and so the letter proceeds to say that Wheeler & Co. ”