Jackson v. Lynch
Illinois Supreme Court
Writ of Error to the Appellate Court for the Second District ;—heard in that court on appeal from the Circuit Court of Kane county; the Hon. Isaac Gf. Wilson, Judge, presiding. This was a bill to redeem from an instrument absolute on its face, but alleged to be a mortgage. The circuit court, on hearing, decreed that the bill be dismissed.
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Writ of Error to the Appellate Court for the Second District ;—heard in that court on appeal from the Circuit Court of Kane county; the Hon. Isaac Gf. Wilson, Judge, presiding. This was a bill to redeem from an instrument absolute on its face, but alleged to be a mortgage. The circuit court, on hearing, decreed that the bill be dismissed. That decree was, on appeal to the Appellate Court for the Second District, reversed, and the cause was remanded to the circuit court, with direction to enter a decree in conformity with the opinion then filed. The case is sufficiently presented in the…
1Opinion of the CourtJustice Scholfield
We have given careful consideration to the questions discussed upon this record, and we find no reason to disagree with the conclusions reached by the Appellate Court. We hold:
First—This transaction was a mortgage, and not an absolute sale and re-sale. It differs from the cases cited and relied upon by counsel for plaintiffs in error in these material respects : The original indebtedness is not extinguished, but it is put in the form of a promissory note, payable two years after date, with interest at the rate of ten per cent per annum. This note Jackson may sue upon and collect at anytime…
2Cited by11 opinions
- Fort v. ColbySupreme Court of Iowa · 1913
- Cassem v. HeustisIllinois Supreme Court · 1903
- First Illinois National Bank v. HansAppellate Court of Illinois · 1986
- Grover v. Hawthorne EstateOregon Supreme Court · 1911
- Carroll v. TomlinsonIllinois Supreme Court · 1901
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