Sanders v. Peck

25 N.E. 508, 131 Ill. 407
CourtIllinois Supreme Court
DecidedOctober 31, 1889
StatusPublished
Cited by6 cases

This text of 25 N.E. 508 (Sanders v. Peck) is published on Counsel Stack Legal Research, covering Illinois Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Sanders v. Peck, 25 N.E. 508, 131 Ill. 407 (Ill. 1889).

Opinion

Mr. Justice Baker

delivered the opinion of the Court:

This case was before us at a former term, and is reported in 112 Ill. 408, under the title of Chicago and Great Western Railroad Land Co. et al. v. Walter L. Peck et al. The cause, if such a combination of controversies may properly thus be designated, consisted of four original bills and eight cross-bills, which, by agreement of all parties, had been heard together. The then decree was in part affirmed, and in part reversed for the errors indicated in the opinion at that time filed, and the cause remanded for further proceedings in conformity with such opinion. The numerous questions, both of law and of fact, then involved in the litigation, are very frilly stated in the report of the case above mentioned.

Upon the remanding of the cause to the circuit court, certain proceedings were had therein, and a decree was entered, which appellees insist is in conformity ivith the decision of this ■court upon the former appeal. With this latter decree, which is now before us, all the parties to the many and complicated controversies in question seem to be content, except Joshua 0. Sanders, the now appellant. Sanders was a defendant to the original bill filed by Peck and his associates to foreclose the Jewett trust deed, and he answered the same. He also filed a cross-bill, in which he set forth that he had purchased, in good faith, about 195 bonds of the Chicago and Great Western Railroad Company, and that he had also purchased about 300 lots of land at Riverside, from the Chicago and Great Western Railroad Land Company, and that he did so having in mind the provision of the trust deed of said land company to John N. Jewett, which provided for a release therefrom of lots in exchange for said bonds, and intending to get the lots released by the surrender of said bonds; that in accordance with the provisions of said trust deed he had duly tendered said bonds to John N. Jewett, and requested him to execute a release, discharging said lots from the lien thereof; that Jew•ett, trustee, had refused to receive said bonds and execute said release. He claimed that he was entitled to have from Jewett a release and discharge of the said lots upon surrender of his said bonds, and that a foreclosure of said trust deed, as prayed for in the original bill of Peck and others, so far as his lots were concerned, would result in manifest injustice to him, and he prayed that Jewett, upon surrender of his said bonds, be decreed to release and discharge his said lots from the lien ■of the said trust deed.

The original decree in the cause found that the deeds of the land company to Sanders, for the 301 lots, were procured by fraud, and set them aside, and dismissed the cross-bill, with costs. But in Land Co. v. Peck, supra, this court held that there was no sufficient evidence that the deeds to Sanders were •obtained by fraud, and that Sanders, as the holder of bonds to the amount of the schedule prices of his lots, which he had tendered to Jewett, was, by the plain terms of the deed of trust, entitléd to the release which he demanded, and that the relief he asked should have been granted to him upon the surrender of his bonds.

The substance of the present decree upon the cross-bill of Sanders is, that Jewett, trustee, upon delivery to him by Sanders of the 195 bonds and all the coupons thereto belonging on the first day of June, 1874, (the date of the tender of the bonds to Jewett,) and upon the refunding by Sanders, to Peck and associates, of $2212.01 paid by them on 53 of the 301 lots for taxes and assessments, with interest, within ninety days from the entry of the decree, cancel the 195 bonds, and execute to Sanders a release of the 301 lots from the lien of the trust deed, and in case of the refusal of Jewett so to do, that the master in chancery, as special commissioner, should receive and cancel the bonds, and execute such release, and that in case Sanders failed to surrender the bonds and coupons, and refund the taxes upon the 53 lots, within ninety days, then his right to a release should cease and determine and his cross-bill be dismissed. Upon the former hearing in this court it was also held that the releases of the six Page and Kimbark trust deeds, and of the Henry Greenebaum trust deed, were invalid, and said releases were set aside, and all of said trust deeds were held to be prior liens to the Jewett trust deed; and therefore, by the present decree, 190 of the Sanders lots, of the schedule value of $120,000, are ordered to be sold to satisfy these restored incumbrances.

Sanders appealed from the last decree of the circuit court to the Appellate Court, and that court reversed so much of the decree as directs, that upon the delivery to Jewett, trustee, by Sanders, of the 195 bonds which he tendered to Jewett, then the 301 lots in Riverside should be released from the lien of the Jewett trust deed, and affirmed the decree in all other respects, and remanded the cause, with directions to decree that upon said Sanders, within ninety days, surrendering to Jewett, or the master, bonds, with coupons, to the amount of the schedule price of such of the 301 lots as he, said Sanders, shall, at the time of making such surrender, designate or specify, then said Jewett,—or, in case he refuses, the master,—shall receive said bonds, with coupons, so surrendered, and cancel the same, and release to the said Sanders, upon his also paying $2212.01 ' taxes, and interest thereon, the lots which may by him be designated or selected from said 301 lots; and in ease said Sanders failed to select lots and surrender bonds therefor, and refund said taxes, within ninety days from the entry of such decree, then that his cross-bill should be dismissed. The cause is now brought again to this court by the further appeal of Sanders, and the assignments of error and of cross-error are quite numerous, but the material questions at issue seem to be as follows:

First, should Sanders be permitted to redeem from the lien and operation of the Jewett trust deed, such, only, of his 301 lots as he now chooses to redeem; second, was it error to require appellant to refund the taxes which Peck and his associates paid on the 53 lots which appellant gets under the decree; third, was it error to require appellant to surrender the accrued interest coupons, along with the bonds to which they belong, without crediting him with the amounts due upon such coupons in making up the schedule prices of the 301 lots; fourth, was it error to refuse appellant permission to either file a supplemental cross-bill, or amend his original cross-bill in the particulars specified in the request; fifth, was it error to require appellant to surrender the 195 bonds and the coupons, and refund the $2212.01 taxes paid, and interest, within ninety days from the entry of the decree; sixth, was it error to enter the decree with reference to the facts, and rights of parties, existing June 30, 1877, and refuse to hear evidence to show that the Chicago and Great Western Railroad Company is now possessed of a large amount of property which is covered by its trust deed to the Farmers’ Loan and Trust Company, which was given to secure the bonds which were also secured by the Jewett trust deed; seventh, was the decree, “that the principal of said bonds is hereby declared to be due,” erroneous; eighth, was it error to refuse to set aside the deficiency decree; ninth, was the decree for costs erroneous.

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Bluebook (online)
25 N.E. 508, 131 Ill. 407, Counsel Stack Legal Research, https://law.counselstack.com/opinion/sanders-v-peck-ill-1889.