Hammer v. Johnson

Citations

• 44 Ill. 192

Syllabus

<p>1. Grantee of party holding equitable title—liability for purchase money on prior sale. H., tlie owner of an undivided half of a mill, sold his interest to C., taking in part payment C.’s notes, and gave him a bond for a deed, to be made upon payment. C. assigned the bond to J., the owner of the other half, and soon after the mill was burned. On a bill filed by H. against J,, to compel him to pay C.’s notes, 7ield, it appearing, by the proof, that J., in purchasing from C., had never assumed the payment of the notes, and that their payment was no part of the consideration for the assignment, he could'not be held liable therefor.</p> <p>2. Nor can J. be compelled to account to H. for any portion of the insurance money received by him upon the destruction of the mill, the policy having been procured1 by J. to protect his own interest.</p> <p>3. But, as to the boiler and other machinery saved from the fire, complainant held a lien thereon, the same as when it constituted a part of the mill, and, as to such property, J. having sold the same, he is bound to account to H. for one-half of the proceeds thereof.</p> <p>4. And, such sale having been made upon credit, and without the consent of H., the risk of collection is upon J. alone, and he must account to H. the same as if it had been made for cash.</p>