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32 Ill. 198

Smith v. Smith

Illinois Supreme Court

Decided April 15, 1863

Illinois Supreme Court · decided 1863-04-15

This was a suit in chancery, instituted by Alfred Smith to foreclose a mortgage executed by Asher Eossitter and Erancis B. Eossitter, his wife, and Sheldon Graves • and Mary Graves, his wife, on the 14th day of June, 1853, to Thomas Dyer, upon lots five and six, in block six, in Kinzie’s addition to Chicago.

Good law ✅— No negative treatment on recordhow we know

Decided 1863-04-15

How this case has been cited

Cited by 9 later decisions — most recently June 1931

9 state decisions

3018631870188018901900191019201930decided

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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Mr. Chief Justice Caton

¶1delivered the opinion of the Court:

¶2We think the court erred in decreeing that, in the event of a sale of the premises under the decree, out of the proceeds of the sale the two notes not due should be paid. This was practically a foreclosure of the mortgage upon those notes, as well as upon those which were due. The court could not decree a foreclosure for more than was authorized by the terms of .the power of sale in the mortgage to sell the premises to pay, and that was “the principal and interest which shall then be due on said notes, or any part thereof, together with costs,” &c. If the party elected to sell under the power, or to foreclose in chancery, he could only sell, or foreclose, for the amount then due according to the terms of the mortgage, and this of necessity would be a release of the security for the amount not due.

¶3■ The decree is reversed and the cause remanded.

¶4Decree reversed.

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