Morgan ex rel. Smyth v. Oberly

Citations

• 85 Ill. 74

Syllabus

<p>1. Judicial sale — after a judgment has been paid — subsequent confirmation—rights of the different parties. Where shares of stock in a company were sold under execution after satisfaction of the judgment, and the price bid deposited, under an arrangement that if the judgment had not been paid the sheriff was to take the same, but if satisfied, the bidder was to withdraw the same, and the latter took his certificate of purchase, and had the stock so sold transferred to him on the books of the company, and refused to restore the stock to the original owner, but withdrew the money so deposited, with the consent of the sheriff, who was ignorant of the use made of the certificate, and the sheriff was sued upon his bond, and his sureties compelled to pay the value of the stock sold, it yas held, in a suit bj' the sheriff for the use of his sureties, to recover the price bid for the stock, that the recovery on the sheriff’s bond, and its payment, vested a complete title to the stock in the bidder, and that he was liable for the sum bid therefor.</p> <p>2. Where it being in doubt whether a judgment in a foreign county had been satisfied, and the sheriff had levied the execution on certain shares of stock in a printing association, and it was agreed by the sheriff and another that the latter should bid off the property in satisfaction of the execution, and deposit the amount of his bid, to be withdrawn in case the judgment had been satisfied, this will not justify such bidder in withdrawing the money without surrendering his certificate of purchase, or giving up the stock acquired by him under his purchase.</p> <p>8. If personal property is sold under execution after satisfaction of the judgment, under such circumstances as to amount to notice to the purchaser, of the satisfaction, yet if the execution debtor sues the sheriff, and recovers the value of the property so sold, and the same is paid by the sheriff or his surety, this will make the sale valid and vest a comple