James S. McDavid v. John McLean
Illinois Supreme Court · 1903-04-24 · cited 3×
This case involved a bill in equity filed by John McLean, Duncan McLean, and William Harvey against co-guarantors on promissory notes issued by the Coffeen Coal and Copper Company, seeking contribution after they paid a remaining balance on the notes following foreclosure of a securing mortgage. The notes were signed by the company and certain directors, with all parties including the plaintiffs and deceased guarantors endorsing guarantees of payment; judgments had been entered against the company and some signers as makers. The circuit court granted contribution, the Appellate Court affirmed, and the Illinois Supreme Court affirmed that ruling in part, holding that the legal effect of the joint guaranties created an equitable presumption of equal contribution among solvent co-guarantors that was not rebutted by evidence of the signers' status as sureties on the face of the notes. The court reversed in part on a procedural issue, finding error in the decree's failure to award costs to dismissed administrator defendants as required by statute. The cause was remanded with directions to correct the costs allocation.