Phœnix Insurance v. Rink

Citations

• 110 Ill. 538

Syllabus

<p>1. Specific performance—sufficiency of proof to compel execution of a parol agreement to convey land. On bill for the specific performance of an alleged verbal contract for the conveyance of land, the uncorroborated testimony of the complainant himself as to the existence of such an agreement, contradicted as it was by the testimony of a disinterested witness, it was held did not amount to that clear and convincing proof of a verbal contract to convey real estate which is required for its establishment, before a specific execution of it will be decreed in a court of equity.</p> <p>2. Consideration—whether it exists. Land conveyed to a trustee as security for a debt, was conveyed by the trustee to the creditor in payment of a portion of that debt, for the residue of which the creditor obtained a judgment. The debtor claimed that upon making payment of a part of that judgment, the creditor agreed to reconvey to him the land embraced in the trust deed. It was held, even if such a promise was made, there was no consideration to support it. The payment by the debtor of a part of the judgment for the whole of which he was legally liable, could form no legal consideration for a promise to make to him a deed for the land, in addition to discharging the judgment.</p> <p>3. Chancery—setting aside sale under trust deed for want of notice— condition upon which it may be done. Where land held under a trust deed given to secure indebtedness of the grantor, has been sold and conveyed by the trustee to the creditor in part payment of the indebtedness, if it be sought to set the sale aside for the want of proper notice, the relief will be granted only upon the condition of the one asking it doing the equity of paying that portion of the debt secured by the trust deed which was discharged by the sale of the land.</p>