Worden v. Crist

Citations

• 106 Ill. 326
• 1883 Ill. LEXIS 173

Syllabus

<p>1. Specific) performance—title of purchaser held in pledge by vendor to indemnify him as surety. Where the purchaser of land, after having paid the purchase money so as to entitle himself to a deed, pledges the title, then in the hands of a third person, to his vendor, to indemnify the latter against loss as surety of the purchaser in another transaction, a specific performance will not be decreed until the debt for which the vendor is surety has been paid, and a decree granting a specific performance upon condition of the payment of such debt by a day fixed, and in default of such payment ordering the premises to be sold for such indebtedness, is not erroneous as to the party seeking such specific performance.</p> <p>2. Statute of Frauds—pledge of title to land to indemnify surely— not in writing—the ninth section of the statute in relation to trusts, construed. A purchased a tract of land and-took a bond for a deed from B, the vendor. The premises had before been sold on the foreclosure of a prior mortgage, and to cut off a dower right in the wife of the mortgagor, B procured an assignment of the certificate of purchase to his son, who received a 'master’s deed investing him with a clear, legal title, and A, after payment of the purchase money, procured B to become his surety upon a note for $1000, agreeing that the title might remain in B’s son as an indemnity to B, until such note should be paid: Held, on bill by the assignee of A for specific performance, that the agreement respecting the holding of the title by B’s son as an indemnity to the vendor was not within the Statute of Frauds, and was valid and binding, though not in writing.</p> <p>3. The ninth section of the Statute of Frauds was intended to prevent persons holding the title to land from creating a trust, appointing a trustee, and declaring who should be the beneficiary, and declaring the terms of the trust in any other manner than in writing. It was not intended to prevent the holder of the lega