Wilson v. Roots

Citations

• 119 Ill. 379
• 10 N.E. 204

Syllabus

<p>1. Contracts—construction of contracts—separate, writings construed together as one. Where different instruments are executed as the evidence of one transaction or agreement, they are to be read and construed as constituting but a single instrument.</p> <p>2. Same—parol evidence, in aid of construction of written contract. Although it is not competent to contradict or enlarge the terms of a written agreement by parol evidence, it is competent to resort to such evidence to ascertain the nature and qualities of the subject to which the instrument refers.</p> <p>3. Same—attendant circumstances, as manifesting intention of parties. Courts, in construing written contracts, endeavor in all cases to place themselves in the position of the contracting parties, so that they may understand the language, and in the sense intended by the persons using it.</p> <p>4. Same—contract for exchange of stock in an incorporated company for bonds of the same company—construed, in respect to the purpose of the exchange, etc. A contract for the exchange of stock in an incorporated company, organized for the manufacture of sewing machines, for bonds of the same company, provided that the first party should place in the hands of a custodian or depositary, properly transferred, $29,500 of the stock, and receipts of a third person, with proper assignments, of $15,000 more stock then loaned to such third person, making $44,500 of the stock, and that the second party should deposit $40,000 of the bonds of the same company, to be delivered to the first party by the custodian, upon satisfactory evidence that the company was producing three hundred sewing machines per week, the bonds to be delivered to the assignor of the stock, and the stock to the other party, and the contract further provided that each party should make his delivery within twenty days: Held, that it was the duty of the first party, within twenty days, to deposit with the custodian, evidences of unincumbered, properly transfer