Sawyer v. Bradshaw

Citations

• 125 Ill. 440
• 17 N.E. 812

Syllabus

<p>1. Fraudulent conveyance—deed of trust to one creditor for future advances—whether fraudulent as to others. A being indebted to B and 0 in the sum of $1500, gave to the latter a deed of trust on a lot worth about $650, to secure a note of $3000. B bought the lot at the trustee’s sale for one dollar, and paid $381 to redeem the lot from a prior sale. B and O testified that the deed of trust was given to secure a debt of $1500, and that the balance was for future advances: Held, in the absence of proof of a purpose to protect the property from the other creditors of A, that the difference between the apparent and the real amount of the incumbrance was not enough, of itself, to stamp the deed of trust as fraudulent as against the other creditors of A.</p> <p>2. Same—sale of property bade to debtor as evidence of fraud. The fact that a creditor, at the request of his debtor, purchased personal property belonging to the latter, at a sale on execution, with his own money, and afterward sold the same to the debtor at the price paid for it, with interest on the money advanced and a charge for time and trouble, fails to show any fraud on the part of such creditor, as against the rights of other creditors.</p> <p>3. Same—creditor taking assignment of prospective decree—as evidence of fraud in the taking of a prior deed of trust. A creditor took a deed of trust from his debtor purporting to secure a debt of §3000, when in fact the real debt was'only §1500, the parties contemplating future advances at the time. The property conveyed was not worth the amount of the actual indebtedness. Two days after the date of this deed the debtor assigned to the same creditor an anticipated decree in a pending suit, which, when recovered, amounted to $1290. This assignment was further security for the indebtedness, and the balance of the decree was applied to the payment of certain other debts of the assignor, absorbing nearly the whole amount: Held, that at most this was but evidence tend