Board of Supervisors v. Hubbard

Citations

• 45 Ill. 139

Syllabus

<p>1. Counties—subscription to railroad stock—conditions. Where a county submitted the question of tailing stock, subject to conditions, in a railroad company, the conditions may be removed by a second submission of the entire question to the people.</p> <p>2. Bonds—validity of—estoppel. If a county received stock in a railroad company to the full amount of its subscription, and voted its stock, and paid interest on its bonds, it cannot be heard to say that the county is not liable to pay accruing interest.</p> <p>3. Same. Where a county has paid interest on its bonds, and voted on stock in a railroad company received therefor, and the bonds have passed into the hands of innocent purchasers without notice, it cannot urge any mere irregularities in the election on the question of issuing the bonds, so as to defeat a recovery on the bonds or coupons.</p> <p>4. Common counts—evidence—notes payable to bearer. A note not under seal, payable to bearer, is admissible in evidence under the common money counts; and is evidence that the hearer has lent money to the maker, or that he paid money for the use of the maker, for which the law implies a promise to pay him the amount specified in the instrument when it falls due.</p> <p>6. Same—coupons admissible under. Coupons are admissible under appropriate common money counts.</p> <p>6. Same — bank bills — coupons. There is no difference between coupons payable to bearer for a sum certain, and bank bills. They alike pass by delivery only, and may alike be offered in evidence under the common money counts.</p>