Sampson v. Neely
Appellate Court of Illinois
Bill to Foreclose a Trust Deed.—Appeal from the Circuit Court of Cook County; the Hon. Richard S. Tuthill, .Judge presiding.
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Bill to Foreclose a Trust Deed.—Appeal from the Circuit Court of Cook County; the Hon. Richard S. Tuthill, .Judge presiding. Heard in the Branch Appellate Court at the October term, 1901. In the year 1896, Carrie A. Spencer was indebted to the Merchants’ National Bank in the sum of $30,000. October 1, 1896, as collateral security for the payment of this indebtedness and of all future indebtedness, she executed to the bank two promissory notes; one of these notes was for $20,000 and was secured by a trust deed to John C. Neely on lots twenty-seven, twenty-eight and twenty-nine, in block four,…
1Opinion of the Court
Mr. Presiding Justice Waterman
delivered the opinion of the court.
The principal contention of appellants is that the note and trust deed for $20,000, given by Carrie Spencer to the, First National Bank, was" collateral to her indebtedness to the bank for which it already held her notes; that Carrie A. Spencer by giving the note which the trust deed for $20,000 was made to secure, incurred no new indebtedness and such note was without consideration; therefore the trust deed purporting to be to secure said $20,000 note was made to secure a note which had no consideration; and therefore the trust…
2Cases cited8 opinions
- Shaffner v. ApplemanIllinois Supreme Court · 1897
- In re the Estate of SchofieldIllinois Supreme Court · 1881
- Stanley v. Chicago Trust & Savings BankIllinois Supreme Court · 1896
- Walker v. CarletonIllinois Supreme Court · 1881
- Dorn v. BissellIllinois Supreme Court · 1899
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Powell v. SampsonAppellate Court of Illinois · 1903