Loeb v. Stern
Appellate Court of Illinois
Assumpsit. — Breach of an agreement to repurchase notes, etc. Appeal from the Circuit Court of Cook County; the Hon. Elbiiidge Hanecy, Judge, presiding. Heard in this court at the March term, 1901.
1Opinion of the CourtJustice Sears
It is contended by the learned counsel for appellants that the agreement by which appellants undertook to buy back the mortgage notes in question at the election of Marcus Stern, is an option contract within the prohibition of section 130 of the criminal code. This contention can not, we think, be sustained. The contract to buy back was contemporaneous with the purchase by Stern and part of the same transaction. The decision of the Supreme Court in Wolf v. National Bank, 178 Ill. 85, is in point and controlling. See, also, Ubben v. Binnian, 182 Ill. 508.
It is contended that because no demand…
2Cases cited7 opinions
- Lyman v. GedneyIllinois Supreme Court · 1885
- Gorham v. FarsonIllinois Supreme Court · 1887
- Wolf v. National BankIllinois Supreme Court · 1899
- Chicago, Rock Island & Pacific Railroad v. BoyceIllinois Supreme Court · 1874
- Ubben v. BinnianIllinois Supreme Court · 1899
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3Cited by1 opinion
- Hopkins v. LoeberAppellate Court of Illinois · 1947