Zyks v. Bowen

Plaintiff filed his bill to foreclose a trust deed in the nature of a mortgage given to secure a principal note in the amount of $4,000. The defense urged was that although the debt remained existent, the lien of the trust deed expired by limitation under the provisions of section 11 (b) of the Illinois Limitations Act [Ill. Rev. Stats. 1951, ch. 83, § 11b; Jones Ill. Stats. Ann. 107.270(1)] because the note and trust deed were more than 20 years past due at the time suit was filed and no extension agreement or affidavit had been filed in the interim as required by the Act. The cause was…