Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 62 (September Term, 1871, And January Term, 1872)
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sheriff's certificate of" sale to be treated as a security. The principle is the same as when a surety buys the debt against his principal for less than its face. He can enforce payment to himself of whatever he has actually jDaid, but only of that amount. Story's Eq. Jur, Sec. 316; Reed v. A^orris, 2 Mylne & Craig, 361. The conduct of Coggeshall, if his object was to acquire the title to Ruggles' land without his knowledge by means of this judgment, was inconsistent with their obliga- tions to... each other as joint debtors, and he can not be per- mitted to use the certificate for that purpose.
While, therefore, we agree with the court below in the opin- ion that the complainant can set aside the sheriff's sale and certificate, we think, as already in substancfe stated, the court should have imposed terms. The complainant must do equity.
He should have paid the debt which Coggeshall has paid — at least he should have paid three hundred dollars of it, with the interest from the time that sum should have been paid on the judgment, if Coggeshall himself has paid so large an amount.
What to read after Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 62 (September Term, 1871, And January Term, 1872)?
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To quickly assess the difficulty of the text, read a short excerpt:
sheriff's certificate of" sale to be treated as a security. The principle is the same as when a surety buys the debt against his principal for less than its face. He can enforce payment to himself of whatever he has actually jDaid, but only of that amount. Story's Eq. Jur, Sec. 316; Reed v. A^orris, 2 Mylne & Craig, 361. The conduct of Coggeshall, if his object was to acquire the title to Ruggles' land without his knowledge by means of this judgment, was inconsistent with their obliga- tions to... each other as joint debtors, and he can not be per- mitted to use the certificate for that purpose.
While, therefore, we agree with the court below in the opin- ion that the complainant can set aside the sheriff's sale and certificate, we think, as already in substancfe stated, the court should have imposed terms. The complainant must do equity.
He should have paid the debt which Coggeshall has paid — at least he should have paid three hundred dollars of it, with the interest from the time that sum should have been paid on the judgment, if Coggeshall himself has paid so large an amount.
What to read after Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 62 (September Term, 1871, And January Term, 1872)?
You can find similar books in the "Read Also" column, or choose other free books by Illinois. Supreme Court to read onlineMoreLess
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