Smith v. Bolles
Supreme Court of the United States
132 U.S. 125 (1889)
Relevant factsFree
Bolles (plaintiff) bought worthless mining stock from Smith (defendant) based on fraudulent representations that it would be worth $10 per share, and the trial court instructed the jury to measure damages as the difference between the contract price and the reasonable market value had the stock been as represented.
IssueFree
Whether, in tort cases, the proper measure of damages is the loss sustained by the plaintiff as a result of the fraudulent representations.