Cushman v. Hayes

Citations

• 46 Ill. 145

Syllabus

<p>1. Contract—construction of-—warehousemen. The plaintiff stored corn in the defendants’ warehouse, and took from them an agreement as follows: “ February 9, 1860; we hereby agree to store ear corn for Henry Hayes till the first of June next, for three cents per bushel; two cents for shelling; and receiving 75 pounds and deliver 58 pounds. If sold before the first of June, we are not to charge for shelling; if not sold by the first of June, we are to charge ■} per cent, per month till it is sold. The corn to be good and merchantable.</p> <p>(Signed,) CUSHMAN & VOBCE.”</p> <p>Held, that the contract contemplated a storage beyond June, 1860.</p> <p>2. Such a contract would not continue for an indefinite time wholly on the will of the plaintiff.</p> <p>3. Although the contract provides the corn may remain in store by paying one-half per cent, per month, until the corn is sold, there is nothing in the terms to prevent a termination of the contract by the defendants, on notice, where a necessity for so doing arises.</p> <p>4. If it becomes necessary for the defendants to bring their business to a close, and they notified the plaintiff to come and settle, and take away his corn, and he failed to comply with the notice, the position of the parties would be analogous to that of pledgor and pledgee, the corn being the pledge or security for the charges upon it; and the defendants would be entitled to all the remedies accorded to that position.</p> <p>5. Pledge—right of pledgee. Where property is pledged as collateral security, the pawnee may, after the debt becomes due, sell the property without judicial process, upon giving reasonable notice to the debtor to redeem.</p> <p>6. The notice of the time and place of sale to the pledgor is indispensable, in the absence of any contract that the pledgee may sell on his own motion.</p> <p>7. Measure of Damages—where tort is waived. Where property is taken tortiously, and sold and converted into money, the owner may waive the tort