Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1873-08-22

ThereforS resolved, that the said
proposals so made be. and they are hereby
approved, in accordance with sand com
promise law, and the faith oflthe county
of Iowa is irregocably pledged for the
fasthful and prompt fdlflment Of the
terms thereof.
Resolved that Meigs..be, and;eie is, heres
by appointed en- behalf 'of TIE county,
and authorized to receive from TIE chairs
man of the Board, and county clerk Of
the Compromise bonds requisite ana nsc>
esseTy to comply with the terms OF said
settlements, and to consu inmate the same
by delivery thereof, and said Meigs is
especially charged with the Obligation and
duty of carefully and vigilantly seeing
that said compromise bonds are properly
made, signed, issued in proper arnount,
and recorded.
| I call your attention to this much of
your transactions in relation to the
said proposal to show that beyond all
peradyenture or doubt, you did agree
to issue these bonds, as l have stated,
and your chairman and clerk could be
compelled to sign and deliver them as
agreed to. Now, that you may have
no doubt Of this negotiability of such
bonds, and Iowa county liability there
ON, in case of transfer by Beecher,
| call your attention to the Cd Black
stone us G, r.. to the case of Miami
VS.. Com. Miami Co., pps! 73l-7s2,
where: the court say, But the real
point in. this case, etc.. x * * 4
We, Mihh and adiudge that tie re
cttals ia~lthe bonds are .co4telusiue..
<constisptsasy an estoppal.in Plus upon
the detfs. In support of this ccnclu-
sion, I'VE Cite the following cases
/: e. There, can then be no doubt, either
as a matter of fact, or of law, that if
YOU issue and deliver to Luther Beech
er bonds of the form set forth, and
as you have agreed to d that then you
issue negotiable bonds, and as a con
sequence, unless you make other pro-
vision, you increase the. debt of Iowa
county to that extent, and wewill pres
emily consider whether or not you have
made such provision.
But further, you also agree that you
not only will deliver to him IS per ct.
of new negotiable bonds, but that @ he
is to hold his judgm ents," together
with all rights and remedies thereun-
der, and that in case you fail to make
any judgment, either at the time or
place, that then these judgments shall
be good, and he may proceed to en-
force then, as though this compromise
had not been made, and for. fear that
Beecher's interests are not fully pro
tected, you expressly agree that in ca Sc
ola failure on your part, he is to stand
justwhere he did before he made this
compromise, and you desire that all
courts sha | SO coDstrue the contract,
inasmdch as you have agreed upon
rule of construction to that effect, and
lest you think | am misduoting or over
drawing the matter, will read from
the agreement.
~ hcir4 i; tended and agreed Ivy
the part;.a .hCleto, that II Tor an, eau. L
or from any reason, excepting by acts
OF the parity Oft tile first 'Fit, default
should ! GREATER occur in the avmenl
of auy part ct the compro.,siSed debt.
at the tine, and place. herein stated,
said party OF Che first past shall be
restored to I'LL his rights ara remedies
as they now exist. and that {i4- The mean
time such tights and remedits shall be-
merely suspended, and all of HE fore
gcing articles OF This in>trrhent are to
be interpreted with reference 10 this
understanding"
But it seems to me that III tine anx'-
ETY. to please Beecher, ycAr attorney
has entirely forgotten and overlooked
your interests. Let us iDQtiire, where
do you stand ? You have waived the
statute Of limitations and all notices;
you have agreed never to question any
of those judgments but is this all you
have assigned away? Let us consider.
You agree that he is to hold these
judgments, and he agrees with you
that the Clerk of the Court where they
are, may, wherever satisfactory proof
is presented that the full amount Of 55
cents on the dollar has been paid, sat
isfy them, but not until then. This
power given to the clerk, then, is de-
pendent upon this condition precedent.
that is, the prompt aymeht at the time
and place as agreed. In. other words,
it is dependent up n the lite al c,m-
pliance and fulfiment of your, and
every part of your agreement, and it
then follows as logical consequence,
in ease of forfeiture on your part, this
power ceases, and becontes null and
void, so that eventually this power Civ
en- to the clerk is. no power at all, for
if you pay, you could compel the sat
isfaction Of the judgments, whether Mr.
Beeeher would or no. But further,
you, have agreed, "that if, from any
cahse whatever, said payments shall
not be faithfully and promptly made,
as agreed, the said first party may pro-
eeea UPON his judgments, and resort TO
any and aIkothef remedies in the same
manner.as if this settlement and agree
ment had not been made, first credit
ing such payments as may then have
been made Ut this coriptumise, on the
interest on such judgments, and after
wards upon, the principal of said judg-
ments, as may have been actually paid
and collect the full amount of judg-
nients, interest, and costs, without 9th