Lull v. Stone

Citations

• 37 Ill. 224

Syllabus

<p>1. Contract — to convey land—warranty. Where the vendor of land, having only an inchoate title, agrees in Ms contract of sale to convey “all Ms right, title and interest, with full covenants of warranty,” he is at least bound to keep good and convey such estate as he had at the time of making sale. He can neither convey it to another, nor forfeit it by Ms own laches without discharging Ms vendee from all obligation to accept and pay for a barren deed.</p> <p>2. Same. A, having purchased land from the owner, but not having completed the payment of the purchase, money or obtained a deed, sold the same to B, and stipulated in the contract of sale that he would convey his right, title and interest with full covenants of warranty, on the payment by B, of the notes given by him to A, for the purchase money. There was no default of payment on the part of B, but A, failing to make his own payments to the holder of the legal title, the latter declared a forfeiture of A’s contract, and re-sold the land to B, who then refused to pay the notes given by him to A. The assignee of the unpaid notes brought suit: JSeld, that the foregoing facts constituted a good defence against the holder of the notes, unless he stood in the position of an innocent assignee for a valuable consideration.</p>