American Marine Paint Co. v. Nyno Line, Inc.

This is an appeal from an order granting a new trial after judgment for the plaintiff in the sum of $16,250 and interest, the full amount prayed for in its complaint. The action was brought to recover commissions for the sale of a steamer owned by the defendant company. The record contains a stipulation of counsel as to certain basic facts, from which it appears that the transaction out of which the action grew was negotiated on the part of the defendant by one Will E. Keller, and upon the part of the plaintiff company by one W. C. Laeombe. The steamer was sold to and paid for by the Kerr Steamship Line of New York. It was, at the time of the sale, in a drydock at New York. The purchase price was three hundred and twenty-five thousand dollars. The defendant agreed to pay to Mr. Laeombe, as agent for the plaintiff, five per cent commission upon the sale, which would amount to $16,250. It is claimed by the defendant that the agreement to pay five per cent commission was procured by a fraudulent misrepresentation to the effect that it would be necessary for Laeombe to pay three per cent to the purchasers of the vessel in order to effect the sale. We do not consider it either…