Peterson v. Currier
Appellate Court of Illinois
Assumpsit, for moneys, etc. Appeal from the Circuit Court of Cook County; the Hon. Francis Adams, Judge, presiding. Heard in this court at the October term, 1895. Statement of the Case.
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Assumpsit, for moneys, etc. Appeal from the Circuit Court of Cook County; the Hon. Francis Adams, Judge, presiding. Heard in this court at the October term, 1895. Statement of the Case. On the 5th day of September, 1889, Charles L. Currier, appellee, entered-into the following contract with Henry E. C. Peterson, appellant: “ Chicago, September 5,1889. Deceived of H. E. C. Peterson the sum of §5,000, to be invested in bonds issued by the Chicago and Iowa Coal Company at par, said bonds being a series of sixty, of the amount of $500 each, and are secured by a mortgage on all of the property of…
1Opinion of the CourtJustice Waterman
Under the holdings of this and the Supreme Court, that a contract whereby an option to buy or sell any commodity is reserved is a gambling contract (Schneider v. Turner, 27 Ill. App. 220; Schneider v. Turner, 130 Ill. 28; Corcoran v. Lehigh & Franklin Coal Co., 37 Ill. App. 577; Wolsey et al. v. Neeley, 62 Ill. App. 141), the only question here presented is, whether bonds are a commodity.
Commodity, according to Webster’s Dictionary, includes everything movable which is bought and sold, except animals. According to the Century Dictionary, it is anything •movable that is a subject to trade or…
2Cases cited7 opinions
- President of the Portland Bank v. ApthorpMassachusetts Supreme Judicial Court · 1815
- Schneider v. TurnerIllinois Supreme Court · 1889
- Hankins v. PeopleIllinois Supreme Court · 1883
- Richmond v. MooreIllinois Supreme Court · 1883
- Schneider v. TurnerAppellate Court of Illinois · 1888
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3Cited by3 opinions
- Cross-Abbott Company v. Howard's, Inc.Supreme Court of Vermont · 1965
- McKeon v. WolfAppellate Court of Illinois · 1898
- Rohrer v. TrainaAppellate Court of Illinois · 1976