Noyes v. McLaflin

Citations

• 62 Ill. 474

Syllabus

<p>1. Variance. A declaration upon an arbitration bond, which was executed by a party to the arbitration and his security, stated that the said plaintiff and the said defendants, described in said bond and the condition thereof, entered into an agreement to arbitrate. The condition of the bond recited that the plaintiff and only one of the defendants sued had entered into the agreement: Held, that an objection to the bond on the ground of variance was properly overruled.</p> <p>2. Same. Where the words plaintiff or defendant are used in the plural or singular number, they will be regarded as being used in the number which the context shows was intended.</p> <p>8. Award—construction as to interest. Where an award found a certain sum to be due from one of the parties to the other, and directed its payment as follows: “ One thousand dollars to be paid within five days from this date, and the balance (twelve hundred and eighty-four dollars and thirty-two cents) to be paid within sixty days from this date, together with ten per cent interest per annum thereon from this date until paid : ” Held, that no interest was to be paid on the one thousand dollars, if paid within five days; and that, as the award made no provision for any rate of interest if not so paid, the rate of interest must be govered by the statute, and that no higher rate than six per cent per annum could properly be allowed.</p> <p>4. Same—interest. Where an arbitrator is empowered to make an award according to the principles of justice, and the award gives sixty days’ time for the payment of the principal sum found to be due, it will not be considered as unreasonable, if it also requires the party to pay interest on such sum from the date of the award at the rate of ten per cent per annum. The terms of such a submission are broad enough to authorize such an award.</p>