, 1874-01-15

aloney IL pa'a Until LILO performance OF the con-
There IL not n want Of mutun1lty betwoon the
parties, nor ia t1,is contract untlateral one.
whore tho obligation Is all upon ono silo. a
consideration novoa from oacll pnrty to the
ct Sh'r nv n0nseys Wagner sf ras Sgrood
sum 81 money, 'thi this undertaking and
performing at tho same timo. Olan-
dlor, pomoroy i Co., on tl'olr. ei3o.
stipulated price Il ii trao tint, whilo tho latter
wore bound to rocotyo tho gratn, tho former
we're nndor no OBLIGATIONS to tloliver; but this
docs not destroy tho mutuaty OF tho contract
because tho money waa l'nid for this Identical
OF nh agroonont should to reciprocal It 10 only
important TINT for cach proposition By ono party
thoro should bo n consideration from tho othor
In tho nneEs %n9r Of 5a"o HuatGr r 0a
Court may In proper caEc. wlero covenant Is
on ono sdo. and thoro IL no mutually locroo
Specific performance Of IT..
IN uios 7. Brad'oy, Johnaom's ~, Casos 252, It
doubt TINT Contract nny DO 10 maslo as to be
optional on ono Of tho pnrtios, a1,d obligatory Oh
the otlor, obligatory at tho election Of ono Of
tllom. THO convenience Of parties -. may
law" Tho eamo Court hold that u 4
Gourmet may be optional as to QUO
party and obligatory aa to tho other"
4uu GpulEAtb lH A1k tGlllt QHEHuHQ OF AHYfull1H
not appearing, on tho face Of the Instrument.
Again, thoro is no stntsato prohibiting auoh
contract. In England 4 statute was cnaotod Il
Geo. 2, Q. 81, made perpetual by 10 Goo. q, O.'9,
expressly prohibiting contracts to put upon "
tho ono before tic Goaft and Ills act ls ro-
forred to in tho English reports as u Tho Stocls-
Jobbing Act" III Now York, and probably in
other Of the Unisod statos, there has boon aomo
similar legislation, but mono In Illinois.
The r1tlo ts we'll settled that when two men
make contract. and reduce it to writing ai,d
Bign It, that IL tho contract botwoen them. It
canuot bo shown, verbally, tint something diff
ferent was intended at tho timo from what aI,-
pears in tho writing Such II contract H. on It's
face strictly legal and ia not wagcr, mud tho do
fendant cannot bo permitted to show TINT the In
tention of both was, that no grain should actually
be delivered but that tho "llrorenSo" should bo
bo truo that, BY o settlement Of tho "diioronce,"
tho Bamo result Is rcachod aa III . wager, TINT
circumstanco does not mako the original contract
tho Same. The dofondant, In ordor to establish
tho ilegality Of tho written colitract, cannot
tablish, orally, Simultaneous contract alleged
Ito bo illegal.
h1atusiity OF obligation is not essential to the
validity Of contraut. This Is hold ii, large
class Of cases coming within tho statute Of
frauds. An agreement within this statute will
bind tho party WHO aubserihed 1t, although thoro
may be no legal remedy at hs suit against tho
other party by reason Of tho fact Tint the lattor
purity QlQ noe HlEn tuO ABfeeMonts Ine 1lHn0iE
statute prohibits gaming with clrds, dico or any
other instrument used In playing gamo or
gameH, hut 1t does not apply to and cover all
wagora. A wager was not at common Inv void
per SO. In order to make it void, 1t was necos-
sary that it should DO effected with q special
elenent Of illegality, az when It, in its conao-
quencea was cnlcuatod to iniurioualy affect
third parties, or involve matters Of acnullal. Dy
tho common Inv Of England, wagers respecting
indifferent matters woro lawful All wagers aro
valid unless founded on transaction which is
immoral, Illegal or indecent.
These contracts nro valid on thoir faco and
such transactions mny be part Of legitimate
trade and commerce, and 10 rule can Or will bo
adopted which will hase tho ofrect OF restraining
trade, because sometimes such forms mny DO
used for illogitimato purposes. The purchase Of
q privilege, like the Halo Of property not in
,actual possession, or tho accumulation Of largo
quantities Of u particular commodity, or salo
upon margin, or tho contract for m option s
ono Of tho many for1nB of commercial trans
actions now justified md sanctioned by trado
and commerce, whatovor tho rule might havo
been under other circumstances yoarB aEo.
TAKEN UNDER Apv1sEalEST.
The arguments, which occupied the creator
part OF two days, were concluded, md taken u,i-
dor adrisenient by Judge Blodgott.
Messrs. Harding, Mccoy l. Pratt, md Wa|-
ker, Dexter l. Smith appeared Tor the As
signee. aud McHara. Cloudy Il Chandler, Fitch
cook l. Dupoo, Dent j. Black, und !. r. Mon
zoe for tho claimants.