Representations as to Value of Mining Stock.—The value and richness of a mine belonging to a corporation, and its convenience to wood and water, are not mere matters of opinion or information, as to which the purchaser of stock from a stockholder has no right to rely upon the representations of the seller.

Evidence of Fraud in Sale of Mining Stock.—Fraudulent representations as to the value of the mine «of a corporation, made by the seller of the stock of the company to the purchaser, as an inducement for the purchaser to buy, may be given in evidence, under a proper state of the pleadings, to defeat the collection of a promissory note given for the stock.

Fraudulent Representations of Seller of a Chattel.—A party cannot resist the payment of a promissory note, given in payment for property, on the ground of fraudulent representations, unless within a reasonable time after the discovery of the fraud he offers to return the property and rescind the contract, provided the property sold is of any value to either party.

Chattel of no Value not Subject of Contract.—-If a chattel be of no value to any one, it cannot be the basis of a contract, but if it be of any value to either party, it may be a good consideration for a promise.

Fraudulent Representations in Sale of Mining Stock.—Where the purchaser is induced by the fraudulent representations of the seller to make a purchase of mining stock, he may, within a reasonable time, by restoring the seller to the situation he was in before the sale, rescind the contract, and resist the payment of the note given for the property.

Value of Mining Stock.—A finding of fact that a mine owned by a corporation is valueless does not necessarily show that the stock of the corporation is valueless.

Presumption as to Findings of Court.—Where there is no issue tendered in the pleadings upon a material matter, the Court or jury will not he presumed to have found on such matter.

Defense that a Note was Obtained by Fraudulent Representations. — If a defendant would resist the payment of a promissory note, given for mining stock, on the ground that the seller made fraudulent representations as to the value of the mine, the answer should set up the defense, and aver either that the stock was valueless to either party, or that the defendant had offered to return it and rescind the contract.