Williams v. Williston

Appellant, George J. Williams, on May 28, 1914, made his promissory note for $40,000 due in five years after its date, with interest at five per cent per annum, and to secure its payment he, with his wife, conveyed to Charles S. Williston as trustee, by a trust deed in the nature of a mortgage, certain improved real estate in the city of Chicago. On September 19, 1914, appellant and his wife conveyed the property, subject to the lien of the trust deed mentioned, to Leo Marion, and received from him, as a part of the purchase price, his eight notes, seven for $1000 each and one for $500, due,…