Warner v. Scott

Citations

• 63 Ill. 368

Syllabus

<p>1. Vendor’s lien—waiver by taking security. Where a party holding bonds for deeds to six 40-acre tracts of land, sold the land and received payment for four of the tracts, and the purchaser gave security for the payment of the purchase money of the two remaining tracts by leaving the title bonds with the agent of the vendor, by which the latter remained in control of the title: Held, that the vendor could not maintain a bill to enforce a lien for the purchase money, as he hacl waived his lien by taking the security,</p> <p>2. Same—lost by vendor's aet of repudiation. The complainant, being the holder of six bonds, each for the conveyance of 40 acres of land, situate in a body, sold the same, the purchaser to assume the payment of the purchase money due on the bonds, and to pay complainant the balance of the price agreed upon. The purchaser paid all he had agreed to pay on the four south 40s except thirty-two dollars, which was added to the price of the two north 40s. The agent of complainant on two occasions made out notes for the purchaser to sign for the balance due, which was refused on the ground that the sum was too large and the interest therein provided was not in accordance with the contract, the purchaser otherwise never having refused to perform his contract of purchase, which was a verbal one. The purchaser had also left with the complainant’s agent two of the title bonds as a security for the payment of the remaining purchase money. The circuit court dismissed complainant’s bill to enforce a vendor’s lien on the whole premises: Held, that the decree was proper; that as to the four tracts the bill would not lie, as the purchase money was paid, and as to the other tracts, the complainant having repudiated the contract himself by requiring notes different from the agreement, he was not entitled to maintain the bill.</p>