Walker v. Abt

Citations

• 83 Ill. 226

Syllabus

<p>1. Chancery—relief to co-defendant without cross-bill. Where a party borrowed money of a bank under a general agreement that all collaterals should be held by the bank for any balance due from him, and gave the notes of a third party, secured by a trust deed on real estate, as collateral security, and the bank sold and assigned his note, and the purchaser foreclosed the trust deed, it was held, that the surplus arising from the sale could be decreed to the bank, which was made a co-defendant, without its filing a cross-bill.</p> <p>2. Same—preservation of the evidence. Where a decree finds facts from the evidence, and they are sufficient to sustain the decree, no other preservation of the evidence is necessary. A party not satisfied with a decree finding the facts, can insist upon a certificate of evidence or hill of exceptions.</p> <p>3. Decree—when should find precise amount. On foreclosure of a deed of trust, where the decree directs the payment of a surplus remaining after paying the complainant to he made to a co-defendant, there being no cross-bill filed, it is not necessary it should find the precise amount due such defendant, but it will be sufficient to find that there is due him more than the surplus.</p> <p>4 Error—assigning error as to one not complaining. A defendant in a chancery suit can not urge as error a ruling as to a co-defendant, which affects the rights of the latter only.</p> <p>5. Liquidated damages. Where a party executes his note for money loaned him, bearing ten per cent interest, with a provision that if the same is not paid within ten days after maturity, interest shall afterwards be paid at the rate of twenty per cent, as liquidated damages, there will he no error in allowing such rate in accordance with the contract, especially where usury is not pleaded.</p>