Snell v. Cheney

Citations

• 88 Ill. 258

Syllabus

<p>Contract—liability on conditional undertaking to pay debt of another. Where a party entered into a contract with a railway company to pay all its liabilities and that of its officers, and in which it was provided the amount to be paid on the debts of the company might be paid out of the proceeds of certain township and county bonds that might be issued in payment of subscription, which such party was to have, it was held, that he could not be held liable to a creditor of the company without proof of the issue and delivery to him of such bonds, it not being an absolute agreement to pay such debts, but a contract to pay from the proceeds of a specified fund.</p>