Bank of Antigo v. Union Trust Co.
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. B. W. Gliffokd, 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. B. W. Gliffokd, Judge, presiding. On and prior to September 2, 1890, A. Weed & Co. were doing business at Ashland, Wisconsin, and that day delivered their check for $3000, drawn upon the appellee bank, to appellant, and took up a note owned by appellee, then due, against Hoxie & Mellor, theretofore sent to appellant by appellee for collection, and on which A. Weed & Co. were indorsers. The check was as follows : “Chicago, September 2, 1890. “The Union Trust…
1Opinion of the CourtJustice Shope
It is contended that the contract between appellee and Weed &- Co., under which the three notes of Mellor- & Hoxie were discounted, was an entire contract, and that appellee had no right to rescind as to the $5430 note and retain the proceeds of the two $3000 notes. It is true, as stated by counsel for appellant, that the general rule is, that when a party wishes to rescind an entire contract he must rescind it in toto, or not at all. (Harzfeld v. Converse, 105 Ill, 534.) But it is not to be overlooked that this is a rule of construction, based upon the intention of the parties to the…
2Cases cited12 opinions
- Preston v. SpauldingIllinois Supreme Court · 1887
- Ward v. SmithSupreme Court of the United States · 1869
- Munn v. BurchIllinois Supreme Court · 1860
- Wooten v. . WaltersSupreme Court of North Carolina · 1892
- Young & Conant Manufacturing Co. v. WakefieldMassachusetts Supreme Judicial Court · 1876
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- Joseph Mogul, Inc. v. C. Lewis Lavine, Inc.New York Court of Appeals · 1928
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