Mcgovern v. the Union Mut. Life Ins. Co..
| Citation | 1883 WL 10377,109 Ill. 151 |
| Parties | ELIZABETH MCGOVERNv.THE UNION MUTUAL LIFE INSURANCE COMPANY. |
| Decision Date | 20 November 1883 |
| Court | Supreme Court of Illinois |
OPINION TEXT STARTS HERE
WRIT OF ERROR to the Circuit Court of Cook county; the Hon. M. F. TULEY, Judge, presiding.
Mr. S. K. Dow, and Mr. J. BURNHAM, for the plaintiff in error. Messrs. SWETT, HASKELL & GROSSCUP, for the defendant in error.
This was a bill brought by Elizabeth McGovern, in the circuit court of Cook county, against the Union Mutual Life Insurance Company, to set aside two sales made by L. D. Boone, trustee, under the power contained in two certain trust deeds, which had been executed by the complainant to secure the payment of certain promissory notes due the defendant. The cause proceeded to a hearing on bill, answer, replication and proofs, and the court rendered a decree dismissing the bill, and the complainant sued out this writ of error.
The property involved consists of certain houses and lots on Adams and Desplaines streets, in Chicago, and fifty-six acres of land fronting on Fifty-fifth street boulevard, usually known as the “Boulevard property.” In 1873 the property was incumbered by two trust deeds, of $7500 each, which complainant had given to the defendant, and also a trust deed for some $5000, which John L. Walsh, a former owner, had placed on the property. The interest had not been paid on these claims for near two years, and there were also about two years' back taxes due, so that the claim of the defendant amounted in the aggregate to something over $23,000. The complainant, for the purpose of paying off the indebtedness, made sale of a portion of the “Boulevard property” to one Weston. A contract in writing was executed, and $500 was paid in cash on the purchase, but when the abstract was brought down it appeared that one R. K. Turner was the owner of the property. The title of Turner, however, was regarded by many as a forgery, but the purchaser refused to consummate his purchase while the title remained of record in Turner. This trade was therefore abandoned, and the complainant then applied to the defendant to negotiate a loan which would liquidate all claims on the property. After some negotiation an arrangement was made, the result of which was, complainant, on June 26, 1873, executed and delivered to the defendant a deed of trust on all the property, to secure the sum of $43,000. The items which made up the sum of $43,000 are as follows:
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¦Loan dated September 25, 1867, ¦$7,500.00 ¦
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¦Interest and deferred interest, ¦1,452.00 ¦
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¦Loan to Walsh, August 18, 1868, ¦5,000.00 ¦
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¦Interest and deferred interest on same, ¦793.20 ¦
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¦Loan dated May 8, 1871, ¦7,500.00 ¦
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¦Interest and deferred interest on same, ¦1,386.00 ¦
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¦Insurance advanced September, 1872, ¦73.50 ¦
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¦Interest on same, ¦5.50 ¦
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¦Paid Weston for contract, ¦500.00 ¦
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¦Paid Mrs. Roe, two notes, ¦420.00 ¦
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¦Interest on same, ¦42.00 ¦
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¦Paid for recording trust deed, $2.50; three release deeds, $1.50; ¦4.80 ¦
¦recording Turner's deed, 80 cents, ¦ ¦
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¦Paid Turner for his title, ¦15,000.00 ¦
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¦Paid Park tax check, ¦1,030.00 ¦
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¦Commissions on this loan, ¦1,290.00 ¦
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¦Check, July 7, to balance, ¦1,003.00 ¦
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¦Total, ¦$43,000.00¦...To continue reading
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