Adams v. Robertson
Illinois Supreme Court
Appeal from the Circuit Court of Douglas county; the Hon. O. L. Davis, Judge, presiding. This was a proceeding in chancery commenced in 1849 for the purpose of settling the rights of different creditors in the proceeds of a mortgage which had been given for their common benefit.
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Appeal from the Circuit Court of Douglas county; the Hon. O. L. Davis, Judge, presiding. This was a proceeding in chancery commenced in 1849 for the purpose of settling the rights of different creditors in the proceeds of a mortgage which had been given for their common benefit. The facts are substantially as follows : In February and March, 1856, James M. Robertson, then a resident of Indiana, was indebted to the Prairie City Bank as acceptor of three bills of exchange, to wit: One drawn by John Vestal, dated August 7,1855, due December, 1855, for $2,000; one drawn by Barney Allen, dated…
1Opinion of the Court
Opinion op the Court :
This is a suit in equity, brought to foreclose a mortgage and divide the proceeds arising from the sale between the appellants and the Prairie City Bank, one of the appellees. It appears that Robertson was indebted to the bank in the sum of $11,500, specified in four bills of exchange drawn and accepted in the State of Indiana, and payable in the State of Hew York. The bank in discounting two of the bills reserved interest at the rate of seven and one-half per cent. The laws of Indiana allow interest to be reserved at the rate of six per cent., and the laws of Hew York…
2Cases cited3 opinions
- Andrews v. PondSupreme Court of the United States · 1839
- McAllister v. SmithIllinois Supreme Court · 1856
- Shepherd v. GuernseyNew York Court of Chancery · 1841
3Cited by9 opinions
- Union National Bank v. International BankIllinois Supreme Court · 1888
- Fenby v. HuntWashington Supreme Court · 1909
- Pritchett v. MitchellSupreme Court of Kansas · 1876
- Waters v. CoxAppellate Court of Illinois · 1878
- Great Western Telegraph Co. v. StubbsAppellate Court of Illinois · 1894
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