Cornblith

This is an action for specific performance of an agreement to exchange real property. It appears that on October 4, 1926, plaintiff was the owner of an equity in certain improved real property in Hermosa Beach, and the defendants were the owners of an equity in certain improved real property elsewhere in Los Angeles County. On that date, the parties, by an agreement in writing, agreed to exchange their respective equities, each party to assume certain designated encumbrances. The amended complaint alleges full compliance with this agreement on the part of plaintiff, and alleges the failure and refusal of defendants to perform. In addition to asking for a decree of specific performance, plaintiff asks for $500 damages, alleged to have been caused by defendants’ delay in performance.

The answer first denies the execution of the contract and all of the other material allegations of the amended complaint, and in addition thereto, by way of affirmative defense, admitting the execution of the contract and the escrow, alleges the inadequacy of the consideration, and also alleges in proper form, that defendants were induced to enter into the agreement by reason of certain false and…