Magnusson v. Johnson
Illinois Supreme Court
Appeal from the Circuit Court of Henry county; the Hon. Geobgb W. Pleasants, Judge, presiding. This was a "bill to redeem, the case made "by it "being, in substance, as follows: That appellant, Magnusson, being the owner of 172 acres of land in Henry county, subject to a trust deed for $3000 before made by him to one Price, as trustee, executed to one Williams, as trustee for Warren M. Baker, a trust deed on the same land to secure the payment of $664; that Baker assigned…
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Appeal from the Circuit Court of Henry county; the Hon. Geobgb W. Pleasants, Judge, presiding. This was a "bill to redeem, the case made "by it "being, in substance, as follows: That appellant, Magnusson, being the owner of 172 acres of land in Henry county, subject to a trust deed for $3000 before made by him to one Price, as trustee, executed to one Williams, as trustee for Warren M. Baker, a trust deed on the same land to secure the payment of $664; that Baker assigned the same to one Martin W. Cay; that, for default of payment of the $664, the land was sold under the trust deed to…
1Opinion of the CourtJustice Sheldon
The question here presented is, whether there was a loan to, or advance of money for, appellant, and the conveyance from Gay to Johnson and Charlson was but a security for the repayment of the money by appellant; or, whether there was a purchase of the land by Johnson and Charlson from Gay, with the privilege given to appellant to acquire the land by paying the purchase price by a certain day. The whole testimony in regard to the transaction is confined to that of appellant, Johnson and Charlson.
The testimony of appellant would doubtless make it a loan, or advance, and security, and that of…
2Cases cited3 opinions
- Perry v. McHenryIllinois Supreme Court · 1851
- Botsford v. BurrNew York Court of Chancery · 1817
- Taintor v. KeysIllinois Supreme Court · 1867
3Cited by8 opinions
- Burgett v. OsborneIllinois Supreme Court · 1898
- Bennett v. HarrisonSupreme Court of Minnesota · 1911
- Eames v. HardinIllinois Supreme Court · 1884
- Frasier v. FinlayIllinois Supreme Court · 1940
- Magnusson v. CharlsonAppellate Court of Illinois · 1889
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