Fairbank v. Merchants' National Bank
Illinois Supreme Court
Appeal from the Appellate Court for the First District;— heard in that court on appeal from the Circuit Court of Cook county; the Hon. Lobin C. Collins, Judge, presiding.
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Appeal from the Appellate Court for the First District;— heard in that court on appeal from the Circuit Court of Cook county; the Hon. Lobin C. Collins, Judge, presiding. The Merchants’ National Bank of Chicago, appellee herein, exhibited its bill in chancery in the circuit court of Cook county, against Sarah L. Peck, appellant’s testate, to recover from her certain dividends on one hundred shares of the capital stock of the Chicago City Railway Company received by her, and ninety-nine additional shares of stock in said company subscribed for and issued to her as the holder of the said one…
1Opinion of the CourtJustice Baker
The mere change of the form of an indebtedness does not release the security given therefor, unless such was the intention of the parties. A renewal of the note, its reduction to a judgment, or other change not intended to operate as a discharge of the lien, still leaves it, as between the parties, in full vigor. (Rogers v. School Trustees, 46 Ill. 428; Flower v. Elwood, 66 id. 438.) In the latter ease this court said: “Whether this exchange of notes operated to discharge the mortgage, as between the parties, at least, depended upon their intention. ”
In Jarnagan v. Gaines, 84 Ill. 203,…
2Cases cited4 opinions
- Rogers v. Trustees of Schools of Township 23Illinois Supreme Court · 1868
- Campbell v. TrotterIllinois Supreme Court · 1881
- Tucker v. ConwellIllinois Supreme Court · 1873
- Jarnagan v. GainesIllinois Supreme Court · 1876
3Cited by6 opinions
- Union Brewing Co. v. Inter-State Bank & Trust Co.Illinois Supreme Court · 1909
- Garvy v. Blatchford Calf Meal Co.Court of Appeals for the Seventh Circuit · 1941
- Boulter v. Joliet National BankIllinois Supreme Court · 1920
- Everman v. HymanIndiana Court of Appeals · 1892
- Detroit Trust Co. v. First Nat. Bank-DetroitDistrict Court, E.D. Michigan · 1934
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