Union National Bank v. Post
Appellate Court of Illinois
Trover, for the conversion of collateral securities. Appeal from the Superior Court of Cook County; the Hon. Marcus Kavanagh, Judge, presiding. Heard in this court at the March term, 1900. Statement.—This appeal is from a judgment which has been rendered in a long and stoutly contested litigation.
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Trover, for the conversion of collateral securities. Appeal from the Superior Court of Cook County; the Hon. Marcus Kavanagh, Judge, presiding. Heard in this court at the March term, 1900. Statement.—This appeal is from a judgment which has been rendered in a long and stoutly contested litigation. The facts out of which the cause of action of appellee arises have been reviewed in one phase or another three times by this court and once by the Supreme Court, and the various decisions rendered upon such reviews may be found in Kelley v. Post, 37 Ill. App. 396; Union Kat. Bank v. Post, 55 Ill.…
1Opinion of the CourtJustice Sears
We are of opinion that upon the facts established by the evidence in this case, appellee was entitled to recover. That where the pledgee of a promissory note, held by him as collateral security, receives payment of the same, he holds it, less the amount of the debt for which it was pledged, for the pledgor, and is liable to such pledgor in an action to recover the same, seems too clear to require a citation of authority. It seems also clear that as affecting the rights of the pledgor, it can not matter what the form of the payment is, whether by money or by another note taken by the pledgee…
2Cases cited6 opinions
- Newberry v. BlatchfordIllinois Supreme Court · 1882
- Cheltenham Stone & Gravel Co. v. Gates Iron WorksIllinois Supreme Court · 1888
- Ogle v. TurpinAppellate Court of Illinois · 1881
- Elston v. KennicottIllinois Supreme Court · 1869
- Post v. Union National BankIllinois Supreme Court · 1896
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3Cited by4 opinions
- Tisdale v. DavisAppellate Court of Illinois · 1916
- Farm Investment Co. v. Wyoming College & Normal SchoolWyoming Supreme Court · 1902
- Meissler v. MeisslerAppellate Court of Illinois · 1902
- Westfall v. AlbertAppellate Court of Illinois · 1903