Post v. First National Bank of Springfield

Citations

• 138 Ill. 559
• 28 N.E. 978

Syllabus

<p>1. Mortgage—executed in another State—validity, as to wife’s land in Illinois. A mortgage executed, by a husband and wife in the State of Texas, on the wife’s land situate in this State, to secure the debt of her husband, being a contract to be.wholly performed in this State, is sufficient if it is valid by the laws of this State.</p> <p>2. Same—land in this State—acknowledgment in another Stale. A mortgage of land in this State acknowledged in another State in conformity with our laws is admissible in evidence in our courts, and the uncorroborated testimony of the mortgagor that he or she did not acknowledge the same in the manner recited in the certificate of acknowledgment is not sufficient to overcome such recitals.</p> <p>3. Same—by married woman—to secure debts of her husband—executed in another State. Under the laws of this State a married woman may mortgage her separate property situate in this State, to secure the indebtedness of her husband; and such a mortgage, though executed in another State, is valid, if executed and acknowledged pursuant to the laws of this State.</p> <p>4. Accord and satisfaction—accepting less sum secured, for larger sum unsecured. The agreement of a creditor with his debtor to accept a less sum secured, for a larger sum unsecured or differently secured, is a good accord and satisfaction.</p> <p>5. - Mistake—materiality. Where a mistake in a mortgage of real estate corrected by a decree of the court, consists only in the use of certain repugnant terms after a sufficiently accurate description of the property, which would he rejected by the courts in construing tho ■ mortgage, the correction is one which can work no harm.</p>