Reports Of Cases Decided In The Appellate Courts Of The State Of Illinois (volume 68) by Illinois. Appellate CourtReports Of Cases Decided In The Appellate Courts Of The State Of Illinois (volume 68) by Illinois. Appellate Court

Reports Of Cases Decided In The Appellate Courts Of The State Of Illinois (volume 68)

byIllinois. Appellate Court

Paperback | February 3, 2012

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1897. Excerpt: ... Vol. 68. Sanderson v. Snow. It is insisted that inasmuch as Holmes was solvent at the time the conveyance from Lyman Sanderson, Sr., was made in and by which he conveyed his entire property to appellants, and rendered himself insolvent and unable to pay his debts, the conveyance was not in fact or law fraudulent, because the argument is, that Holmes at the time was solvent and able to pay the note due appellee; and Matthews et al. v. Jordan et al., 88 Ill. 602; Bittinger v. Kasten et al., 1ll Ill. 264; Moritz v. Hoffman, 35 Ill. 553, and Van Wyck v. Seward, 6 Paige, 64, are cited. We do not understand that either of the above cases show or hold that a security may make a voluntary conveyance of all his property without consideration and leave a security debt unprovided for and himself with no means to satisfy his obligation, simply because the principal was able at the time to pay the debt. This would be in effect to disregard his own obligation--one he had voluntarily entered into and agreed to fulfill. The joint maker of a note, though security for the principal maker, is, in law, as far as collection is concerned, a principal in relation to the payee. If he desires the principal pushed to payment under the statute he must give notice in writing to the payee to sue the note, otherwise he will be held indefinitely, the same as the principal maker. The cases above cited, put in a condition as to what is said about a surety having a right to convey his property by gift or even in trust for himself, that he must retain enough to pay his obligation, and this we understand without reference to the ability of the principal to pay the debt. Therefore the question as to whether the appellants Sanderson and Sanderson are bound by the appellee's judgment or not is...
Title:Reports Of Cases Decided In The Appellate Courts Of The State Of Illinois (volume 68)Format:PaperbackDimensions:220 pages, 9.69 × 7.44 × 0.46 inPublished:February 3, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217276199

ISBN - 13:9780217276191

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