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45 Ill. 326

Stout v. Hill

Illinois Supreme Court

Decided September 15, 1867

Illinois Supreme Court · decided 1867-09-15

<p>Writ of Error to the Circuit Court of LaSalle county; the Hon. Madison E. Hollister, Judge, presiding.</p>

Cited by 1 later decisions — most recently January 1911

1 state decisions

Good law ✅— No negative treatment on recordhow we know

Decided 1867-09-15

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Mr. Chief Justice Breese

¶1delivered the opinion of the Court:

¶2This was an action of assumpsit, brought in the La Salle Circuit Court, by Joseph Stout against Warren Hill, on an instrument of writing, of which the following is a copy:

“Due Daniel Condon, or order, $464, with interest at ten per cent, to be paid as soon as I have time to foreclose a mortgage given by William Cantlin and Michael Boach to said Condon, dated September 6, 1856, for $480, and by him this day assigned to me, and to sell said land by a judicial sale, oías soon as I shall otherwise dispose or settle said mortgage.
“ May 4, 1858. WABBEM HILL.”

¶3Condon indorsed this note without recourse, to the plaintiff, Stout.

¶4The case depends upon the construction to be piit upon this writing.

¶5The record shows the land mortgaged was covered by a homestead right, and that right set up in the proceedings to foreclose, and properly recognized and allowed by the court.

¶6It is very evident, we think, that, by the express terms of the instrument, the money specified in it is not yet due. It was not to be paid until the mortgage could be foreclosed and the land sold. The homestead claim has prevented this, as this court has repeatedly decided, consequently the time of payment has not yet arrived, and the suit was premature.

¶7Should the homestead right expire by its own limitation as provided in the statute, or be abandoned, then the note will be due and payable, and not before.

¶8The judgment of the Circuit Court must be affirmed.

¶9Judgment affirmed.

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