Montague v. Mitchell
Illinois Supreme Court
This bill of complaint in chancery was filed April 5, 1858. It states that on the seventh of August, 1857, the defendant Young applied to the defendants Kitchel & Layton, then bankers at Rockford, for the loan of $200. They agreed to lend him the money, deducting their usual rate of interest, upon his getting a surety.
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This bill of complaint in chancery was filed April 5, 1858. It states that on the seventh of August, 1857, the defendant Young applied to the defendants Kitchel & Layton, then bankers at Rockford, for the loan of $200. They agreed to lend him the money, deducting their usual rate of interest, upon his getting a surety. Young proposed Montague for surety, and Kitchel & Layton assented, and filled out one of their printed forms for notes for the $200, and delivered it to Young, for him to obtain the signature of Montague, they well knowing that the intended loan was for the benefit of Young,…
1Opinion of the CourtCatoit, C. J.
We think the court erred in holding Young incompetent on account of interest in the event of the suit. Technically, we think, his interests were equally balanced, whatever his feelings or wishes may have been. If the injunction was made perpetual, then he had to pay the whole of the judgment. If it was dissolved, and Montague had to pay the judgment, then he was responsible over, and must pay the amount to him. And we do not see how this is changed in a legal point of view, because Young may have given security to Montague to indemnify him for whatever he might pay on the note for which the…
2Cited by4 opinions
- Danforth v. SempleIllinois Supreme Court · 1874
- Beuter v. DillonAppellate Court of Illinois · 1895
- Boulter v. Joliet National BankAppellate Court of Illinois · 1920
- Parker v. Singer Manufacturing Co.Appellate Court of Illinois · 1881