Doolittle v. Jenkins

Citations

• 55 Ill. 400

Syllabus

<p>1. Vendor’s lien—whether it exists, and by whom it may be enforced. An insolvent judgment debtor conveyed certain land which he owned, to a third person, in consideration that the latter would pay a certain sum in compromising the debts of the former. The grantee accordingly paid the money to a person agreed upon, who undertook to settle the debts of the grantor, but failed to do so. At the time of making the conveyance, the grantor supposed the judgment was paid. After the Hen of the judgment had expired the judgment creditor sought to subject the land, in the hands of the grantee, to the satisfaction of his judgment, on the allegation that the grantor held a vendor’s lien, by implication of law, and that he, as such creditor, was entitled to be subrogated to the equities of the vendor in respect thereto: Held, there was no vendor’s lien. The grantor, believing the judgment was satisfied at the time he executed the deed, evidently did not rely upon his lien, and it was, therefore, to be regarded as waived.</p> <p>2. Trust—when it arises—and its execution compelled. Where a purchaser of land, under an agreement with his vendor, paid the purchase money to a third person to he applied by the latter in the payment of the debts of the vendor, and such third person accepts the money for that purpose, he thereby becomes a trustee, holding the money for the benefit of the creditors for whom it was intended, and a court of equity will, at their instance, compel the execution of the trust.</p>