Tyler v. Goddard

207 Ill. App. 526, 1917 Ill. App. LEXIS 717
CourtAppellate Court of Illinois
DecidedOctober 24, 1917
StatusPublished

This text of 207 Ill. App. 526 (Tyler v. Goddard) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Tyler v. Goddard, 207 Ill. App. 526, 1917 Ill. App. LEXIS 717 (Ill. Ct. App. 1917).

Opinion

Mr. Justice Boggs

delivered the opinion of the court.

An action in assumpsit was brought by plaintiffs in error (hereafter called plaintiffs) against defendants in error (hereafter called defendants) in the Circuit Court of Wabash county, to recover the amount alleged to have been paid by mistake to defendants on the sale of a bank building, fixtures, etc. A trial was had resulting in a verdict and judgment against plaintiffs in bar of action and for costs. To reverse said judgment this writ of error is prosecuted.

The principal ground relied on by plaintiffs for a reversal of said cause is that the verdict is against the manifest weight of the evidence and on the instructions.

The record discloses that on or about the 13th day of September, 1913, plaintiffs, a company of men in the vicinity of Wayne City having taken steps to organize a National Bank in said city, were made a proposition in writing by defendants, partners in a private bank, for a sale of their said bank building, fixtures, etc.

It was recited in said proposal that it should stand and be binding on all parties. On the evening of the 13th of October, 1913, the assets of the bank were checked up by a committee representing plaintiffs and by Harry H. Clark, cashier of the Wayne City Bank, representing defendants.0 At that time $6,046.67 of the bills receivable of said bank were taken by Clark as so much on the purchase price of said bank, furniture, real estate, etc., and a draft was issued by plaintiffs to defendants for $10,893.40, making with said bills receivable, $17,030.07. It is insisted by plaintiffs that in making said settlement they overpaid defendants $6,080, and to recover said amount this suit was instituted. ,

Possession of the Wayne City Bank was taken by plaintiffs on October 14th, being the next day after the assets were checked. Immediately thereafter plaintiffs insisted that an error had occurred in the settlement of said contract and made a demand on Clark, the cashier of the Wayne City Bank, for the return of the notes which he had taken from the bank the evening of the settlement. On his refusal to return the same an action in trover was brought by plaintiffs against Clark and defendants to recover the value of said notes. During the pendency of the trial the suit was dismissed as to defendants and the suit thereafter was prosecuted against Clark alone, and resulted in a verdict and judgment in favor of Clark and against plaintiffs for costs. It is now insisted by defendants that this trial amounted to a former adjudication of the matters here in controversy and that plaintiffs are not entitled to prosecute this suit. An examination of the record in that case discloses that the matters there in issue were different from the matters in issue- in this suit and the parties are not the same. We hold, therefore, that the suit in trover does not amount to a former adjudication and is no bar to the prosecution of the suit here involved. Garrett v. John V. Farwell Co., 199 Ill. 436.

Without going into the pleadings in this case, which are somewhat extended, it will only be necessary to say that the issue made and the principal controversy in this case is the construction to be placed upon the contract entered into by defendants with plaintiffs for a sale of the assets, real estate, furniture, etc., of the Wayne City Bank.

The final contract entered into by said parties provided, among other things, that “the said bank of Wayne City shall be checked up, when ready for delivery, by an auditing committee consisting of H. H. Clark and any two of the above mentioned parties of the second part (plaintiffs), and proven in balance. The bank shall show actual cash capital and surplus invested to the amount of $10,675.75, and $2,080, furniture and fixtures and $4,000 real estate.

“The said parties of the second part (plaintiffs) hereby agree to pay to the said party of the first part (defendants), on delivery of possession of the said bank property the total aggregate sum of $16,755.75. And this sum is understood to be full and complete pay and compensation for the entire bank property of the said Bank of Wayne City. And to include all the books and business on the same, bonus and pay for said business and good will, all moneys and credits, building, furniture and fixtures, supplies, blanks, etc.

“And the said parties of the second part further agree that on the delivery of the said bank to them they assume the liabilities of the said bank, including deposits of the said bank that are subject to check and certificates of deposit, bills payable and all forms of liability appearing on the said books of the said bank when same shall have been proven in balance, and the said parties of the second part shall execute and deliver to the said party of the first part, a good and sufficient bond, to be approved by the said party of the first part, obligating the said parties of the second part to fulfill the said obligations of the said party of the first part, to pay off such deposits, certificates and bills payable, on demand or at maturity.

“And the said party of the first part does hereby agree that, immediately upon payment to said party of the first part by the said party of the second part of the sum of $10,675.75 to cover capital stock invested, in full in cash or its equivalent in good negotiable approved paper, and the additional sum of $6,080, representing the value of the real estate, furniture and fixtures, that is to say, upon the payment to the said party of the first part the sum of $16,755.75, the said party of the first part shall deliver to the said parties of the second part the personal property, including cash, credits, bills receivable, furniture and fixtures, supplies, and all the bank equipment, together with the books and business on the same, together with the good will of the said party of the first part.”

Said contract further provides for a conveyance by warranty deed of the real estate on which said bank is located, together with the first or lower story of the two-story brick bank building situated thereon.

The remainder of the contract is not important so far as the matters here in controversy are concerned.

The court in our judgment wholly failed to properly construe the above contract in its instructions to the jury. A large number of instructions were tendered by plaintiffs presenting their theory of the proper construction of the contract involved which were refused by the court. Certain of these instructions, we think, stated correct principles of law and were not covered by other instructions given, and it was error to refuse the same. Among this number is the fourteenth and fifteenth of plaintiffs’ refused instructions, the fourteenth instruction being as follows: “The Court instructs you that, by the terms of the contract in this case, the defendants represented and stated to the plaintiffs that their bank had an actual capital and surplus invested to the amount of $10,675/"5 and agreed to sell and deliver to the plaintiffs that amount of capital and surplus invested in cash or good negotiable paper.

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Eddie v. Eddie
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Cite This Page — Counsel Stack

Bluebook (online)
207 Ill. App. 526, 1917 Ill. App. LEXIS 717, Counsel Stack Legal Research, https://law.counselstack.com/opinion/tyler-v-goddard-illappct-1917.