Estimate

Implies a computation or calculation. The particular idea intended to be expressed by the word must be determined by the subject-matter under consideration, together with the context of any pertinent instrument. Where a redeeming mortgagee stated in his afadavit that there was unpaid on the mortgage, " as near as he could estimate," a specified sum, it was held that this was equivalent to saying that he had computed the sum.* Where a tract of land, " estimated to contain 1,000 acres," was sold by written agreement, for a price in gross, it was held that acquiescence for many years would raise a presumption that the purchaser understood that the sale was in gross; also, that where land is exchanged for other land the liability of the vendor for a deficiency should not be enforced with the same strictness as in the case of a sale for money. The evidence did not disclose any fraudulent assurance calculated to deceive the purchaser.*