Stacey v. Randall
Illinois Supreme Court
Randall filed his bill in the McLean Circuit Court, stating that Stacey was indebted to him in the sum of $1,000 with interest ; to secure which he gave a mortgage upon the property and estate that had been given to him by his father, Stimpson Stacey, however or wherever said property or any part of it may be found ; to be discharged by the payment of $1,000, in two years from the day of the date of the mortgage, which was on the 9th of February, 1847. The bill then…
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Randall filed his bill in the McLean Circuit Court, stating that Stacey was indebted to him in the sum of $1,000 with interest ; to secure which he gave a mortgage upon the property and estate that had been given to him by his father, Stimpson Stacey, however or wherever said property or any part of it may be found ; to be discharged by the payment of $1,000, in two years from the day of the date of the mortgage, which was on the 9th of February, 1847. The bill then describes the lands, which were bequeathed, by numbers, alleges the amount of principal and interest due to be $1,757.48, and…
1Opinion of the CourtSoates, C. J.
Where two instruments are executed as parts of the same transaction and agreement, whether at the same or different times, they will be taken and construed together. The plaintiff here inserted a condition in this mortgage, to operate as a defeasance of the deed, upon the payment of one thousand dollars, expressed to be the consideration. At the same time the defendant, mortgagee, executed to the plaintiff, mortgagor, a separate and distinct defeasance, expressing therein what we regard as the truth of the transaction—that the mortgage deed was executed to secure whatever amount may be found…
2Cited by14 opinions
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- Cotes v. RohrbeckIllinois Supreme Court · 1891
- Mayer v. Illinois Life InsuranceAppellate Court of Illinois · 1918
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