C. T. T. Co. v. Two-O-One E. Del. P. B. Corp.

Full title: Chicago Title and Trust Company, Trustee, Appellee, v. Two-O-One East…

Court: Appellate Court of Illinois, First District

Date published: Feb 26, 1941

308 Ill. App. 673 (Ill. App. Ct. 1941)

32 N.E.2d 352

Opinion

Gen. No. 41,234. (Abstract of Decision.)

Opinion filed February 26, 1941 Rehearing denied March 10, 1941

MORTGAGES, § 62^_ — extension agreement, as consideration for conveyance of furniture. Where defendant, who owned 95 per cent of the stock in mortgagor corporation, conveyed her furniture to the trustee, bondholders' agreement to grant extensions and forbear certain interest payments constituted consideration for defendant's conveyance, and such conveyance was valid and binding upon defendant.

_ See Callaghan's Illinois Digest, same topic and section number.

Appeal from Circuit Court of Cook county; Hon. GEORGE F. RUSH, presiding.

Affirmed. Heard in third division, first district, this court at June term, 1940.

Walter Hamilton, for appellant;

Gottlieb Schwartz, for certain appellee;

Sonnenschein, Berkson, Lautmann, Levinson Morse, for certain other appellees;

Winston, Strawn Shaw, for certain other appellee.

Opinion by JUSTICE DENIS E. SULLIVAN.

"Not to be published in full." Opinion filed February 26, 1941; rehearing denied March 10, 1941.