Roberts v. Hughes

Citations

• 81 Ill. 130

Syllabus

<p>1. Judicial sale—corneat emptor. The maxim caveat emptor applies in a judicial sale, and where no fraud has been practiced, and no misrepresentations made as to the condition of the title, if loss ensues the purchaser must bear it.</p> <p>2. Same—incumbrance on property no ground for avoiding sale. In the absence of fraud and misrepresentation in procuring the levy of an execution upon land which is incumbered, or its sale, the sale to the execution creditor in satisfaction of his demand, is valid, and equity will not set it aside at his instance, even though the property is not worth enough to satisfy both the judgment and the prior incumbrance.</p> <p>3. Execution—equity of redemption liable Vo levy. The equity of redemption of a mortgage on real estate is subject to levy and sale on execution in the same manner as unincumbered property, and the purchaser acquires the same, subject to the incumbrances. It will be presumed he deducts from the price he is willing to bid, the amount of such previous incumbrances.</p> <p>4. Chancery—relief against party's own negligence. A court of equity will not relieve a party from, the results of his own negligence when the channels of information are open to him, and no fraud or deception is practiced upon him.</p>