Miller v. Ballard

Citations

• 46 Ill. 377

Syllabus

<p>1. Subscription—promise to pay. Where money is promised to be paid upon a subscription, and the promise is based upon the fulfillment of certain conditions, or the attainment of certain objects set forth in the instrument subscribed to, a performance is a sufficient consideration to support an obligation to pay.</p> <p>2. Performance—what is necessary to a recovery. It is not necessary that the payees of the instrument themselves, shotild perform the work and expend the money, nor does it vitiate the promise that the performance should be delegated to a corporation. It is sufficient, that upon the faith of this subscription, the conditions of the instrument were performed.</p> <p>3. Measure of damages—in an. action upon a subscription. If all the money so subscribed, was necessarily used in securing the end designed, then the recovery would be limited by the amount subscribed; but if an amount less than the whole amount subscribed was necessarily expended, the recovery would then be limited to the amount so expended, and would be divided among the subscribers, p-o rata.</p> <p>4. Parol evidence. And in such case, in an action to recover the subscription money, it is competent to prove by parol, that an instrument executed in furtherance of the purpose for which the subscription was made, was accepted, and was satisfactory.</p>