Worcester National Bank v. Cheeney

Citations

• 87 Ill. 602

Syllabus

<p>1. Recording law—deed filed for record and withdrawn, affords no notice. Where a party presents a deed of trust to the recorder, who indorses it as “ filed for record,” and the party immediately, and before any entry is made in relation thereto, withdraws it for the alleged purpose of having a government stamp placed on it, and it is not returned for record for more than a month afterwards, the first filing is not sufficient to give constructive notice of the existence of the deed.</p> <p>2. An instrument, to become constructive notice, must, in good faith, be filed for record and left with the proper officer for that purpose. His file-mark is not, in and of itself, constructive notice, but evidence only that the proper steps have been taken to give constructive notice, which may be shown to have been indorsed through fraud or mistake.</p> <p>3. Evidence—to prove existence of a record. The existence of a record can not be proved by merely balancing probabilities. 'If in existence, it proves itself, and if not to be found, the presumption is, it never existed, and those who affirm its prior existence must show clearly and satisfactorily that fact.</p> <p>4. Attachment—when no lien against rights of others. Where no certificate of the levy of an attachment upon real estate is filed, the attachment and levy will create no lien as against bona fide creditors and purchasers of the debtor without notice.</p> <p>5. Consideration—-forbearance and extension of time of payment. The forbearance of a creditor, and his extension of the time of payment of the debt, constitute a sufficient consideration to support an assignment of notes secured by deed of trust to the creditor by a member of the firm indebted.</p> <p>6. Promissory note—indorsee taking as collateral security, is protected. A creditor who takes a promissory note indorsed to him before its maturity, either in payment of his debt, or as a security for his debt, will be protected, and will hold the same free from la