Howe v. Hutchison

Citations

• 105 Ill. 501
• 1883 Ill. LEXIS 114

Syllabus

<p>1. Contract—exchange of lands—furnishing abstracts of title—condition precedent. Where parties make a contract for the exchange of lands, each to exhibit to the other abstracts of title showing a good title to their respective lands, by a day named, this is a condition precedent to be performed before either party can call upon the other to perform the agreement; and if the abstract of either is not satisfactory, and fails to show the title agreed.to be made, the other may elect to consider the contract at an end, and if it is recorded in the proper county, have it set aside as a cloud upon his title.</p> <p>2. Same—must be performed on day named. Where an abstract is to be furnished, under a contract for an exchange of lands, showing a good title, by a day named, the party to furnish the same has no right to demand an extension of the time in which to furnish an additional abstract, the first not showing a good title; and if the other party refuses to give such extension, and refuses to perform for want of an abstract in proper time showing a good title, this will put an end to the contract.</p> <p>3. Same —forfeiture for not performing—liquidated damages. Where a contract for the exchange of lands provides that each party shall furnish the other an abstract showing a good title for his land, by a day named, and if either refuses to perform he shall forfeit and pay to the other S1000 as liquidated damages, and one fails to exhibit such an abstract of title, so that the other, who has furnished a satisfactory abstract, declines to perform the contract, neither being ready to convey to the other neither one can have a decree in his favor for the sum agreed upon as damages.</p> <p>4. Cloud on title—contract not recorded. A contract for the sale or exchange of lands, not recorded in the county where the land of one of the parties is situated, is no cloud upon his title.</p> <p>5. Costs— discretionary, i/n chancery. The costs in chancery cases, by statute, are within