DEFENSES AFTER CONFIRMATION.
lic. That objection must be made before the assessment is confirmed, where the party has notice of the application for confirmation. Lehmer v. The People ex rel. etc. 601.
4. To cure defects in former one. Where a special assessment is held invalid on account of the ordinance under which it is made, it being illegal, the defect can not be cured or remedied by making a new assessment and report under the invalid ordinance. City of Chicago v. Wright, 579.
5. Confirmation conclusive. Where the park commissioners of South Park, under the requirement of the law, made an assessment upon property contiguous to the park, for benefits, and returned the same to the circuit court, where the same was found to be valid, and confirmed, and divided into yearly installments, on application for judgment for the third yearly installment, it was held, that the confirmation of the assessment by the circuit court was res adjudicata as to the validity and legality of the assessment and levy, and precluded a reinvestigation of the matters so decided. The People ex rel. v. Brislin, 423.
6. Interest of parties making. Where, by law, interested parties are constituted a tribunal to make special assessments of benefits for a pro- posed public park, the assessments made by them can not be invalidated by their interest, as the law qualifies them to act. Ibid. 423.
Officer to apply for judgment on. See TAXES AND TAXATION, 10.
SPECIAL VERDICTS. See VERDICTS, 1.
To enforce acts of Congress. See JURISDICTION, 5.
1. Constitutionality with respect to title. The act entitled "An act to enable the corporate authorities of two or more towns, for park pur- poses, to issue bonds," etc., is not in violation of section 13 of article 4 of the constitution, as embracing more than one subject, or matters not expressed in its title. The body of the act is germane to the title of the bill. The People ex rel. v. Brislin, 423.
2. Relating to sale of estates of lunatics, etc. The act of 1853, au- thorizing the sale of the real estate of any idiot, lunatic or distracted person, for certain specified purposes, has no reference whatever to non- resident owners. It applies only to cases where the idiot, lunatic or
STATUTES. STATUTES CONSTRUED. Continued.
distracted person and his conservator reside in this State. resident conservators are authorized by the act of 1865. Dodge et al. 564.
Sales by non-
Wing et al. v.
3. School law of 1872. See SCHOOLS AND SCHOOL LANDS, 3 4. Laying out highways. See HIGHWAYS, 1, 2.
5. Effect on right of action. Under the revision of 1874, no new law shall be construed to repeal a former one, whether such former one is expressly repealed or not, as to any offense committed against the former law, or as to any act done, or any right accrued or claim arising under the former law. The revision of the Liquor Law in 1874 does not take away any right of action accrued under the act of 1872 on the subject. Roth v. Eppy, 283.
WHEN NOT NECESSARY TO BE CALLED.
1. Whether a subscription or security for a loan. Where a contract with an insurance company recites an absolute agreement "to subscribe for and purchase 5500 shares of the capital stock" of the company, and to pay therefor to the company $550,000 in certain installments, and provides that the subscription and purchase shall be made in ten days, and gives the subscriber the option to have the company resell or repurchase the stock within a given time, and under the agreement the subscription was made and certificate of stock issued, it was held, that this was an actual subscription, and that the shares were not taken as collateral security for a loan. The option in such case is a right secured by the contract above, and in addition to the absolute title to the stock. Mel- vin et al. v. Lamar Insurance Co. et al. 446.
2. Right to cancel the same as against other stockholders. Where a subscription is made to an insurance company to a large amount, and twenty per cent paid in to enable the company to procure the Auditor's certificate, but under a contract giving the subscriber the right to with- draw the sum so paid in and have the subscription canceled, and other large subscriptions are afterwards made to the capital stock by parties, without actual notice of the contract, and believing the subscription to be a permanent one, it was held, that such subscription could not be canceled and the money paid thereon withdrawn, without the knowl- edge and consent of those subscribing on the faith of it. Ibid. 446.
3. Presumption in respect to. All subscriptions are presumed to be upon the same basis, and all shares entitled to the same benefits and subject to the same burdens, and in the subscription of each person 41-80TH ILL.
SUBSCRIPTION. TO STOCK OF CORPORATION.
every other subscriber has a direct interest, and a right to have the same remain and contribute in future burdens. Melvin et al. v. Lamar In- surance Co. et al. 446.
4. Agreement for withdrawal, fraudulent. A subscription to the cap- ital stock of a corporation of a large amount, coupled with a right, under a separate contract, to surrender the certificate of stock, and take back the money paid therefor, and cancel the subscription, is a fraud upon the other subscribers, and such agreement will be treated as void, and the party so subscribing held to all the responsibilities of a bona fide subscriber. Ibid. 446.
5. Release of, not allowed. The subscribed capital stock of a corpo- ration, as well as its other property, is a trust fund for the benefit of creditors, and a subscriber can not be released from his obligation to pay, to the prejudice of creditors or of any other stockholder. Ibid. 446.
6. Stockholders not bound to take notice of contract limiting and qual- ifying absolute subscription.. Where a certificate of stock is issued, unaccompanied with any evidence of a condition, and the books of the company show the stock to be bona fide and absolute, other subscribers will have the right to rely on what thus appears as being true, and are not bound to go back and take notice of an antecedent individual con- tract existing between the directors and the takers of such shares, and it seems that even if such contract is spread upon the record, it affords no notice to other stockholders. Ibid. 446.
7. Remedy by stockholders as against another who is wrongfully re leased. Where a stockholder in a corporation, under a prior contract to his subscription, is allowed by the directory to surrender his stock, and take back the assessments paid by him, in fraud of the other stock. holders, any such stockholder so injured may, by bill in equity, have the money so withdrawn refunded, and the stockholder so withdrawing declared liable on his subscription, in any and all assessments, the same as other subscribers. Ibid. 446.
SUPERIOR COURT OF COOK COUNTY.
BRANCH HELD BY CIRCUIT JUDGE.
1. There is no objection to one of the circuit judges of the State holding a branch of the Superior Court of Cook county, and that more than three branches thereof are held at the same time. Wadhams v. Hotchkiss, 437.
PRACTICALLY SAME AS CIRCUIT COURT.
1. Continues during term of office. When the term of office of an offi- cer is fixed by law at two years, and the record shows that the office was filled by appointment at the time when, by law, the term would expire, it
is conclusive that the appointment was for two years from that date, and the sureties on the bond of the officer so appointed will be liable for his acts during the full term of two years from the date of his appoint- ment. Ladd et al. v. Board of Trustees, etc. 233.
MISREPRESENTATION OF PRINCIPAL TO SURETY.
2. At time of executing, no defense to suit. Where parties become sureties on the bond of a township treasurer appointed at the time when that office becomes vacant by limitation, they will be liable for the full term for which he is appointed, and will not be permitted to defend against such bond on account of any representations the principal may have made to them in regard to the object or purpose of it at the time it was executed. Ibid. 233.
PROPERTY PLEDGED BY PRINCIPAL.
3. Rights of surety. It is a well settled principle in equity, that a creditor who has the personal contract of his debtor, with a surety, and takes property from the principal as a pledge or security for his debt, should hold the property for the benefit of the surety as well as him- self, and if he parts with it without the knowledge or against the will of the surety, he shall lose his claim against the surety to the amount of the property so surrendered. Property so taken by the creditor is taken and held in trust, not only for the creditor's security, but for the surety's indemnity. And these rules of equity are recognized and enforced in courts of law. Kirkpatrick v. Howk, 122.
4. A party signed a note, as surety, with the principal, and delivered it to the principal, with authority to insert the name of a payee in a blank left in the note for that purpose. The principal borrowed of the plaintiff the amount of money the note called for, and inserted his name therein as payee, and delivered the note to him, and at the same time, as addi- tional security for the money, delivered, in pledge, a colt worth $100. The colt was afterwards delivered up by the payce of the note to the principal: Held, in a suit brought on the note, against the surety, that the plaintiff could only recover the balance due on the note after deduct- ing the value of the colt. Ibid. 122.
DECLARATIONS OF PRINCIPAL.
As evidence against surety. See EVIDENCE, 9, 10.
1. Repeals all prior conflicting laws. The General Revenue Act of 1872 necessarily worked a repeal of all prior conflicting laws, whether found in general acts or special city charters. Law v. The People ex rel. 268.
POWER OF LEGISLATURE TO EXEMPT FROM.
2. Under constitution of 1848. It was not competent for the Gen- eral Assembly, under the constitution of 1848, to exempt from taxation
TAXES AND TAXATION.
POWER OF LEGISLATURE TO EXEMPT FROM. Continued.
property owned by educational, religious or charitable corporations, which was not itself used directly in aid of the purposes for which the corporations were created, but which was held for profit merely, although the profits were to be devoted to the proper purposes of the corporation. Northwestern University v. The People ex rel. 333.
SCHOOL PROPERTY NOT TAXABLE.
3. As the State is prohibited from appropriating any of this fund to defray the expenses of the State, counties or other municipal bodies than those created for public school purposes, it can not do the same by the indirect means of taxation. City of Chicago v. The People ex rel. etc. 384.
4. Where moneys belonging to the school fund are loaned on mort- gage security, and the title to real estate is acquired on foreclosure, and is held for school purposes only, the legislature has not the constitu- tional power to tax the same, although the legal title may be held in the name of a city which is entrusted with the fund and the public schools within its limits. Ibid. 384.
5. Real estate acquired on foreclosure of mortgages given to secure the re-payment of school moneys loaned, in fact belongs to the State, in trust for school purposes, and, under the Revenue Law of 1874 (section 2), is exempted from taxation. Ibid. 384.
6. By whom to be sworn to. Under the General Revenue Law of 1872, the county collector is the proper party to make the affidavit to the return of a delinquent special assessment, and his return, prop- erly sworn to by him, is not invalidated because other officers have also attached their affidavits thereto. Law v. The People ex rel. 268.
7. Application on prior indebtedness. levied for any given year is legally applicable in payment for labor performed and expenditures made on the roads and bridges during that fiscal year, and can not rightfully be applied to any other purpose, even to the payment of prior indebtedness. Commissioners of Highways v. Newell et al. 587.
8. Where the commissioners of highways, in 1874, levied a tax of forty cents on the $100 worth of taxable property, which amounted to $1782.39, there being a prior indebtedness of $1600 unpaid, and during the year and before the tax was collected, contracted for the erection of piers for a bridge, it was held, that they had the legal authority to make such contract and pay the contractor out of the tax levied, when col- lected, without reference to the prior indebtedness. Ibid. 587.
9. Power of commissioners of highways to lery. See HIGHWAYS, 7 to 11.
« AnteriorContinuar » |