Kingsbury v. Wall

Citations

• 68 Ill. 311

Syllabus

<p>1. Assi&nment—what may he assigned under the statute. It is indispensable that all bills of exchange or promissory notes, to be assignable under our statute or at common law, must be certainly payable, and not dependent on any contingency, either as to the event, or the fund out of which payment is to be made, or the parties by or to whom payment is to be made.</p> <p>2. An order drawn on another and accepted by him, for the payment of a certain sum in goods, payable on condition the payee shall have in his hands ready to be delivered to the drawer a deed from the payee and wife for certain property described, and making the delivery of the goods and the deed simultaneous acts, is not assignable either at common law or under the statute, as the contingency upon which payment was to be made might never happen.</p>