Clark v. Lyons
Illinois Supreme Court
This was a bill in chancery, filed by defendant in error. The bill alleges that in 1851, J. Sloan purchased from one Treat, the land in dispute, for $75, of which $50 was paid.
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This was a bill in chancery, filed by defendant in error. The bill alleges that in 1851, J. Sloan purchased from one Treat, the land in dispute, for $75, of which $50 was paid. That Sloan took possession of the land; that soon after, Treat died, not having made a title to Sloan for said land, and leaving .$25 due thereon; that about the 1st of March, 1853, Clark purchased from the estate of Treat, the debt of $25 and interest, and having sold to Sloan a yoke of oxen for $50, it was agreed that Clark' should take a conveyance of the lands to himself as security for said sum of $75, and the…
1Opinion of the CourtBreese, J.
We are well satisfied that time was not of the essence of this contract, and therefore a failure to pay on the day did not forfeit the contract. Mason v. Caldwell, 5 Gilm. 196. The doctrine of equity is compensation and not forfeiture, as we have repeatedly declared. Glover v. Fisher et al., 11 Ill. 666 ; Morgan et al. v. Herrick, Adm'r, et al., 21 ib. 497.
It is discretionary with courts to enforce or not such contracts, as the attending circumstances may warrant. We see nothing in the case to justify the inference that the delay which did come in the payment of the money, arose out of a…
2Cases cited1 opinion
- Glover v. FisherIllinois Supreme Court · 1850
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