Brown v. Krause

Citations

• 132 Ill. 177
• 23 N.E. 1012

Syllabus

<p>1. Estoppel—purchase by beneficiary under trust deed—estoppel to deny the bona fides of the sale. ' The holder of notes secured by deed -of trust exercised his option of declaring the whole debt due for a default in paying a part when due, and caused the trustee to sell the mortgaged property, and became the purchaser at less than one-half the price for which he had before sold it to the debtor. It was held, that such purchaser was thereby estopped from denying that the trustee’s sale was a bona fide one, and was held to have instructed his agent what bid to make, and that his action afforded evidence against him that he did not regard the property as worth any more than his bid.</p> <p>2. Rescission op contract—/or fraud. In this case, the facts and circumstances attending the sale of certain real estate are given in detail, showing such fraudulent -misrepresentations on the part of the vendor as to call for a rescission of the contract at the instance of the purchaser.</p>