Hynes v. Illinois Trust & Savings Bank
Illinois Supreme Court
Appeal from the Appellate Court for the First District;— heard in that court on appeal from the Circuit Court of Cook county; the Hon. J. W. Mack, Judge, presiding. This is an appeal from a judgment of the Appellate Court affirming a decree entered October 4, 1904, by the circuit court of Cook county, disallowing the claim of appellant against the Pacific Railway Company, an insolvent corporation, then in the hands of a receiver.
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Appeal from the Appellate Court for the First District;— heard in that court on appeal from the Circuit Court of Cook county; the Hon. J. W. Mack, Judge, presiding. This is an appeal from a judgment of the Appellate Court affirming a decree entered October 4, 1904, by the circuit court of Cook county, disallowing the claim of appellant against the Pacific Railway Company, an insolvent corporation, then in the hands of a receiver. This company was organized under the laws of this State August 23, 1889, and in January, 1891, a judgment creditor filed a bill, for himself and other creditors,…
1Opinion of the Court
Per Curiam :
Appellant insists that the decretal judgment against Holmes on his stock liability in favor of the creditors cannot be set off against the liability of the corporation on these bonds in appellant’s hands, even with notice, because the mutuality necessary to a set-off, either in law.or equity, does not exist; that the bonds in question are negotiable instruments, and as they were purchased for value by appellant before maturity he took them free from any set-off that could be urged against the liability of Holmes on his stock. We have gone over the authorities cited in the very…
2Cases cited4 opinions
- Richmond v. IronsSupreme Court of the United States · 1887
- Blair v. Illinois Steel Co.Illinois Supreme Court · 1896
- Balch v. WilsonSupreme Court of Minnesota · 1878
- Colt v. BrownMassachusetts Supreme Judicial Court · 1858
3Cited by12 opinions
- Evans v. Illinois Surety Co.Illinois Supreme Court · 1921
- Samuels v. E. F. Drew & Co., Inc.Court of Appeals for the Second Circuit · 1923
- Massee & Felton Lumber Co. v. BenensonDistrict Court, S.D. New York · 1927
- Samuels v. E. F. Drew & Co.District Court, S.D. New York · 1922
- Willis v. Fidelity & Deposit Co. of MarylandAppellate Court of Illinois · 1952
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