Wood v. Clark

Citations

• 121 Ill. 359
• 12 N.E. 271

Syllabus

<p>1. Agency—extent of powers conferred—appointment of agent by insolvent debtor to settle Ms affairs. Power given by an insolvent or failing debtor to an agent, coupled with a transfer of the debtor’s property, to settle up the business of the latter during his absence, will include the power of the agent to pay certain of his principal’s debts in preference to others, by a sale of property for that purpose.</p> <p>2. An insolvent debtor placed his brother in possession of his goods and personal property, to close the same out as best he could, and' to make certain preferences of creditors or sureties, and left his place of business, and failing to make any arrangement to get out of his financial troubles, sent his brother this writing: “This is to certify that my brother, J. P. E., has my consent, and is authorized, to transact all my business while I am away, and I shall be responsible for the same:” Held, that the writing, viewed in the light of the circumstances, clearly authorized the brother named therein, to pay the principal’s debts by a sale of property, and, as incident to this, to discriminate between creditors.</p> <p>3. Contracts—parol evidence in aid of construction. It is competent to prove, by parol evidence, the situation of the parties, and of the subject matter of a written contract, at the time it is made and the circumstances under which it was made, for the purpose of understanding the language employed and the sense in which it is employed, though not for the purpose of contradicting or enlarging its terms.</p> <p>4. Same—two papers construed together. Where, at the time a bill of sale for personal property is executed and delivered, the vendee executes and delivers to the vendor, or his agent, a writing, showing a receipt of the property and what the vendee is to do in consideration of the transfer, the two writings will be construed together, as affording evidence of the transaction.</p> <p>5. Sale—whether absolute or contingent. A debtor,