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133 Nat'l Corp. Rep. 1 (1956)

handle is hein.journals/natcorprep133 and id is 1 raw text is: DEVOTED TO GENERAL NEWS, LAW, COMMERCE AND FINANCE Volume 133. Number I. CHICAGO, JUNE 22, 1956 Subscription $2 a Year. Ten Cents a Copy RECENT ILLINOIS SUPREME COURT DECISIONS EDWIN HALL COOKE, OFFICIAL REPORTER. (Volume 8, Second Series.) (Illinois Advance Sheets.) Bean, appellant, vs. McDon- ough County Hospital District let al., appellees. (Klingbiel, J.) Vol. 8 (2nd), p. 367. (No. 33919. - Decree affirmed.) Municipal corporations-gen- eral rule as to including cost of public improvements in municipal indebtedness. Prior to the extension of credit to a municipality for the cost of public improvements or facili- ties, and in the absence of a showing that the municipality is not ready to raise the amount by taxation, no debt is created therefor. Hospital districts-when is- uance, without referendum, if general obligation bonds for hospital district will not be enjoined. Where a proposed )onded indebtedness of a hos- pital district does not exceed 12 per cent of the value of taxable property in the dis- trict, its board of directors may authorize, under section 21 of the Hospital District Law, the issuance of general obligation bonds without hold- ing a special election, and the fact that the district may, un- der section 23 of the law, be- cbme obligated in the future to take over and pay the county for an existing tuber- culosis sanitarium is not to be considered in determining whether the district's indebt- edness exceeds the 11/2 per cent limit, as section 21 places a limit only on the amount of bonds. Sellers et al., appellants, vs. Archer et al., appellees. (Her- shey, C. J.) Vol. 8 (2nd), p. 371. (No. 33823.-Decree af- firmed.) Wills-devise to un- married boy of 15, with re- mainder to heirs of his body, does not violate rule against -- erpetuities. A grant of a life estate in real property to an unmarried boy of 15, with re- mainder over to the heirs of his body, cannot violate the - 'e against accumulations where the will does not re- quire any income to be accu- mulated, and does not violate the rule against perpetuities, - the remainder interest will st, if at all, no later than at ne death of a life in being, aid the possibility that he may ever marry or have heirs of kais body has no bearing upon he application of the rule, Lhich is designed to insure that the vesting in title, if and when it happens, takes place within the time fixed by the rule. In re James P. Moore, an Attorney, respondent. (Bris- tow, J.) Vol. 8 (2nd), p. 373. (No. 33700.-Respondent cen- sured.) Disbarment-canons of ethics should be ob- served. Although the canons of ethics of the State and American Bar Associations are not laws, they do consti- tute a safe guide for profes- sional conduct, and in the interest of protecting the pub- lic, disciplinary measures may be imposed if the canons are not observed. Same-record must be free from doubt to warrant dis- ciplinary action. The power to discipline is not arbitrary and must be exercised with legal discretion and caution, and proof of the charges must be established by clear and convincing evidence, and the record must be free from doubt not only as to the act charged, but as to the motive with which it was done. Same-courts are reluctant to use fixed rule as to what constitutes solicitation. Solic- itation of cases, while not fraught with moral turpitude, is, nevertheless, inimical to the good reputation of the bar and likely to bring the pro- fession into disrepute, and therefore it has been deemed to warrant suspension under some circumstances, but the courts are reluctant to ex- pound a fixed rule of what constitutes solicitation of legal business to warrant disbar- ment or suspension. Same - when employment of an investigator is not im- proper. Employment of an investigator is not unethical per se, and it cannot be in- ferred from such employment that an attorney is engaged in ambulance chasing, and where an attorney pays an investigator for his services, irrespective of recovery, the regular rates for investigative work, such employment is not improper. Same-when advancements to client do not warrant dis- barment or suspension. Where advancements are made to a client not as a means of solic- iting business, or in connec- tion with any agreement to purchase an interest in the litigation, but because the client happened to be the sole (Continued on page 9) RECENT ILLINOIS APPELLATE COURT DECISIONS FIRST DISTRICT First Division Presiding Justice Hugo M. Friend, Justice Grover C. Nie- meyer, Justice Joseph Burke. Second Division Presiding Justice John V. Mc- Cormick, Justice Edwin A. Robson, Justice Ulysses S. Schwartz. Third Division Presiding Justice John Charles Lewe, Justice Michael Feinberg, Justice Roger J. Kiley. Clerli, Leslie V. Beck, Digested for THE NATIONAL COR- PORATION REPORTER by Frederick A. Rowe, Jr. 46733. June 13, 1956. Den- nis, appellant, vs. Naegele et al., appellees. Appeal from Superior Court of Cook 'County. Decree reversed and cause remanded with direc- tions. (Kiley, J.) Contracts -Attempting to rescind real estate contract and recover payments and value of im- provements made - Trust deed not released of record until after beginning of trial -Tenders of performance. This suit is to rescind a real estate contract and to recover the payments and the value of the improvements made. The chancellor dismissed the suit for want of equity and plain- tiff has appealed. The con- tract provided that upon plaintiff's payment of two- thirds of the purchase price, the seller would convey the property by a good and suffi- cient warranty deed. The pur- chaser agreed to give a mortgage to the sellers for the balance. Plaintiff completed the two-thirds payment. De- fendants did not convey the property and plaintiff sued. The court held that the trust deed was not released of rec- ord until after the instant trial was begun. The unre- leased trust deed was relied on by plaintiff as proving in- ability of defendants to per- form. Certain evidence of de- fendants was sufficient to off- set plaintiff's testimony. Un- der the circumstances there was no reasonable probabil- ity of litigation so as to ren- der defendants' title unmer- chantable under the rule that equity will not compel one to buy a law suit. The recvtd. is silent as to an opportunity to plaintiff to tender the nribr- gage. Justice requires a reversal of the decree for the purpose of giving the chan- cellor another opportunity to induce the parties to make tenders of performance. Should plaintiff make a lawful tender of performance accord- ing to the contract terms and defendants reject the tender, the trial court should enter a decree of rescission upon an accounting by plaintiff for rents collected with allowance for proper credits. Should plaintiff refuse to make a law- ful tender the decree should be entered dismissing plain- tiff's suit for want of equity. The chancellor in giving this opportunity to perform ac- cording to contract terms should allow the parties only such time as he deems reason- able. In equity the rights of the parties are determined by the circumstances at the time of entry of the decree and, accordingly, the opportunities to be given on remandment are not too late. (Mr. Presid- ing Justice Lewe took no part.) * * . 46773. June 13, 1956. Bar- rett, appellant, vs. Chicago Transit Authority, a municipal corporation, appellee. Appeal from Circuit Court of Cook County. Affirmed. (Kiley, J.) Contracts-Contract assuming all lawful liabilities of prede- cessor-Plaintiff not among class of benefited persons-Ac- tion barred by Statute of Limi- tations. This appeal is by plain- tiff from an order dismissing the suit on defendant's mo- tion. Plaintiff originally sued defendant for damages in 1948 alleging an injury due to the negligence of the Chicago Surface Lines, defendant's predecessor. The alleged in- jury occurred in 1930, when plaintiff was four years old, and the suit was begun when he attained majority. That suit was dismissed for lack of al- legation of statutory notice to defendant. In that case the Appellate Court reversed and remanded holding that the notice was unnecessary and that the gravamen of the ac- tion is breach of contract be- tween the Chicago Transit Authority and the Chicago Surface Lines with respect to which plaintiff is a third- party beneficiary. The con- tract referred to was one whereby defendant assumed all the lawful liabilities of the Chicago Surface Lines. The instant suit was begun seven and one-half years after plain- tiff had reached his majority, relyijig on the third-party bex.efciir .ic. :.Dfendant mo 'd -io tulh on the ' ~d :. h~tl the two-year St,* e bfi:Limlia ,kis .b'red • = -* o . t ' thp acto and that- . prior sts: . s. facts, had been' disiTg f d far failure to file a mandate 'within the proper time and that the orig- inal judgment against plain- (Continued on page 10) Financial-Commercial ***Dun & Bradstreet, Inc., in its weekly review of whole- sale commodity prices, June 13, says: TheDaily Whole- sale Commodity Price Index, compiled by Dun & Bradstreet, Inc., continued to move in a narrow range this week and closed at 288.17 on June 12. This was down slightly from 288.74 a week earlier, and com- -pared with 273.45 on the cor- responding date a year ago. Grain markets generally dis- played considerable strength, with wheat, corn, and rye reg- istering sizable advances for the period. The uptrend was sparked by a private report, issued early in the week, which estimated winter wheat pro- duction at 663,500,000 bush- els, about 18,000,000 bushels lower than the Government estimate of a month ago. The Official June 1 forecast, issued on June 11, placed the winter wheat yield at 670,375,000 bushels, and the total wheat production at 922,672,000 bushels. This, if achieved, would be 2 per cent below last year's 938,159,000 bushels, and 20 per cent less than the ten-year average of 1,146,547,- 000. Corn prices edged higher with light receipts a support- ing factor. Purchases of grain and soybean futures on the Chicago Board of Trade aver- aged 51,300,000 bushels per day, compared with 63,200,- 000 the previous week and 35,000,000 a year ago. Some expansion in bookings of Spring wheat flour occurred early in the week as mills fur- nished protection against price advances. Domestic de- mand for other types of flour remained slow with only scat- tered small lots booked by bakers and jobbers in need of early replacements. The do- mestic raw sugar market showed further strength as refiners ordered larger quan- tities to meet expanding sum- mer demand. The green coffee market continued strong, re- flecting increasing confidence that the Brazilian policy to stabilize the market will be maintained. With the ap- proach of warmer weather, cocoa prices were fairly well maintained in relatively light trading. Warehouse stocks of cocoa showed a slight decline to 369,943 bags, from 372,275 a week earlier, and compared with 237,912 bags held at this time last year. Lard devel- oped a somewhat firmer under- tone following recent declines. Livestock prices generally fin- ished slightly lower for the week. Hog receipts in west- ern markets continued well (Continued on page 10) Digitized from Best Copy Available Published at 1207. 8 S. Dearborn St. Chicago. III. Telephone RAndolph 6-0661 e ESTABLISHED June 23, 1890. Entered as Second Clam Matter. October 11. 1890, at the Post Office at Chicago, Ill., under Act of March 3. 1879.

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