Pitts v. Cable

Citations

• 44 Ill. 103

Syllabus

<p>1. Mortgage—what constitutes. The mere execution of a deed absolute on its face, and a bond for the reconveyance of the premises, upon certain conditions, does not of itself stamp the transaction as a mortgage; and when in such case, the proof shows that the parties intended an absolute sale, with right to repurchase simply, such intention must govern.</p> <p>2. Usury—when paid—cannot he recovered back. A party cannot recover hack, either at law, or by bill in equity, usurious interest which he has paid.</p> <p>3. Chancery practice—pleadings must conform to relief asked. When a complainant in chancery seeks a specific performance, his bill must he framed with that view.</p> <p>4. Purchaser—hona fide—without notice of equity. Where a party purchases, without notice of an outstanding equity in another, he is not affected by such equity.</p>