Bill of Complaint in Lindsay & Dresser v. Lamb & Lewis, [Law papers].
Summary
Summary: Alexander Lindsay and Morris Lindsay gave the State Bank of Illinois a promissory note for $1,600 and asked Lamb and Lewis to sign as sureties on the note. As security, Lindsay and Lindsay assigned Lamb and Lewis certain claims to collect to pay the note. Lindsay and Lindsay also mortgaged half of one block in Chicago, Illinois, for additional security. Lindsay and Lindsay claimed that the assignments were more than enough to pay the note and wanted the land in Chicago back, but Lamb and Lewis had already sold the half-block for $4,000. Lindsay and Lindsay claimed that the half-block was worth $80,000. Lindsay and Lindsay retained Logan, Lincoln, and Herndon and sued Lamb and Lewis for an accounting of the receipts of the assignment and for a reconveyance of the half-block. Lamb and Lewis claimed that the assignment was not enough to pay the debt and that they had to sell the land in Chicago. Alexander Lindsay died, and the case continued with Dresser, the administrator of Lindsay's estate, as co-plaintiff. The court ruled for Lindsay and Dresser and awarded $1,000.
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