Opinion
Gen. No. 9,451. (Abstract of Decision.)
Opinion filed February 28, 1945 Rehearing by appellant and appellees denied September 15, 1945 Released for publication September 15, 1945
RESCISSION AND CANCELLATION, § 23 — failure of consideration as defense to liability. In suit by plaintiffs to cancel certain notes and mortgages given by them to defendant-attorney who represented one of the plaintiffs in numerous matters over period of years, where it appeared that plaintiff was indicted for confidence game and upon demand for bail bond, defendant-attorney hypothecated federal bonds owned by him to indemnify surety company in order to obtain bail bond and defendant asked plaintiff to sign note for $3,000 and mortgage on subdivision owned by plaintiff wife, and although defendant testified instruments were to secure him for unpaid legal fees, after indictments were set aside, defendant's bonds were returned to him by surety company, held that upon return of defendant's bonds to him, consideration for note and mortgage failed, as instruments were given to indemnify defendant should his bonds be forfeited.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from the Circuit Court of Macon county; the Hon. C.Y. MILLER, Judge, presiding.
Decree reversed; cause remanded with directions. Heard in this court at the February term, 1945.
James G. Allen, for appellant;
C.C. Martin, for appellees.
Not to be published in full. Opinion filed February 28, 1945; rehearing by appellant and appellees denied September 15, 1945; released for publication September 15, 1945.