Goddard v. Putnam , 22 Me. 363 ( 1843 )


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  • The opinion of the Court w'as drawn up by

    Shepley J.

    It is contended, that this sum should not be restored because payment w'as made in property, which was not then worth in cash so much as the amount really due upon the note. When a creditor consents to receive payment in specific property considered at the time as equivalent to the amount for which it is received, he cannot upon a discovery of an error in estimating the amount due, insist upon a new valuation of the property. In this case the executors appear to have examined the estate, and to have had an opportunity to ascertain the market value of the shares in the bank: and they considered the property equivalent to the amount of the principal of the note. It is doubtless true, that they came to that conclusion, because they found it difficult or impossible to obtain payment in cash; but it is not perceived, that the legal rights of the parties can be thereby varied. The judicial tribunals cannot correct errors in judgment; and yet they are required to aid in the correction of mistakes arising from' a misapprehension of the true state of facts.

    It is also contended, that this is not the proper remedy; that relief should be granted only in equity by setting aside the whole settlement and restoring the parties mutually to their former rights. Such would be the proper course, if the settlement had been produced by any misrepresentation or fraud. Chase v. Garvin, 19 Maine R. 211. But such a position is excluded by the finding of the jury. It is also said, that if the settlement is sustained, and the plaintiff recovers against the executors, they will bo chargeable with the whole principal of the note, although the property received may be of much less *371value. The amount of any judgment, which the plaintiff may recover, would seem to be a proper charge against the estate; and their position, so far as it respects the mode of payment of the note, would not be varied by these proceedings. It will be perceived upon a calculation on the principles before stated, that the verdict of the jury was for too large an amount; and it must be set aside and a new trial granted, unless the plaintiff will enter a remittitur for all over the amount of the errors, with interest on it from the time, when a demand was made upon the executors to have it corrected.

Document Info

Citation Numbers: 22 Me. 363

Judges: Shepley

Filed Date: 4/15/1843

Precedential Status: Precedential

Modified Date: 9/24/2021