Abend v. West
Appellate Court of Illinois
Assumpsit, for interest, etc. Error to the Circuit Court of St. Clair County; the Hon, Alonzo S. Wilderman, Judge, presiding. Heard in this court at the February term, 1896. Statement of Facts. On the 3d day of April, 1888, the Western Hail Company, of Belleville, Illinois, having become financially embarrassed, was confronted with the fact that unless relief was secured, the company would be compelled to suspend.
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Assumpsit, for interest, etc. Error to the Circuit Court of St. Clair County; the Hon, Alonzo S. Wilderman, Judge, presiding. Heard in this court at the February term, 1896. Statement of Facts. On the 3d day of April, 1888, the Western Hail Company, of Belleville, Illinois, having become financially embarrassed, was confronted with the fact that unless relief was secured, the company would be compelled to suspend. Hot only its credit was exhausted, but W. H. Powell, E. B. Powell and Conrad Beinecke, who owned virtually all the capital stock, had personaliy guaranteed a large portion of the…
1Opinion of the CourtJustice Sample
This case involves a construetion of the language of the indemnifying bond, on which the suit is based. The defendants agreed to pay to plaintiffs “ whatever amount they may lose on their stock, but not to exceed $5,000, in case loss accrue to them by reason of their said subscriptions.”
The statement of facts shows the plaintiffs got back all they subscribed and paid for their stock and $1,600 in addition, as a dividend thereon, in excess' of the amount they had to pay on account of the Smith judgment; this payment the plaintiffs allege was a loss which they sought to recover by suit on the…
2Cases cited1 opinion
- Abrahams v. JonesAppellate Court of Illinois · 1886