Pierce v. Brewster
Illinois Supreme Court
Appeal from the Circuit Court of Stephenson County; the Hon. Benjamin B. Sheldon, Judge, presiding. On the 4th day of November, 1857, John K. Brewster made an assignment of his property, for the benefit of creditors, to Daniel S. Brewster and John A. Clark.
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Appeal from the Circuit Court of Stephenson County; the Hon. Benjamin B. Sheldon, Judge, presiding. On the 4th day of November, 1857, John K. Brewster made an assignment of his property, for the benefit of creditors, to Daniel S. Brewster and John A. Clark. The peculiar features of the assignment upon which the controversy arises in this case are presented in the following portion of that instrument: “ That the said party of the second part shall take possession of all and singular, the lands, tenements and hereditaments, and all other property hereby assigned, or intended so to be, and sell…
1Opinion of the CourtChief Justice Catch
The question in this case is embraced within a very small compass, and is readily determined by the application of familiar principles of law and practical common sense. The assignment, as originally executed, authorized the assignees to sell the assigned property on a credit. This clause, as we held in Bowen v. Burkhurst, 24 Ill. 257, gave the assignees too extended a power, which might be used to the prejudice and delay of creditors, and therefore vitiated the assignment. Before the complainants obtained their judgment against the assignor, a subsequent agreement was executed between the…
2Cases cited1 opinion
- Bowen v. ParkhurstIllinois Supreme Court · 1860
3Cited by3 opinions
- Gibson v. ReesIllinois Supreme Court · 1869
- Kyle v. HarveysWest Virginia Supreme Court · 1885
- Union National Bank v. Bank of CommerceIllinois Supreme Court · 1880