Kimen v. Atlas Exchange National Bank - 295 U.S. 215 (1935)
U.S. Supreme Court
Kimen v. Atlas Exchange National Bank, 295 U.S. 215 (1935)
Kimen v. Atlas Exchange National Bank of Chicago
Argued April 10, 1935
Decided April 29, 1935
295 U.S. 215
CERTIORARI TO THE APPELLATE COURT,
FIRST DISTRICT, OF ILLINOIS
Decided upon the authority of Awotin v. Atlas Exchange National Bank, ante p. 295 U. S. 209.
275 Ill.App. 638 affirmed.
Certiorari, 294 U.S. 703, to review the reversal of a judgment in an action for breach of the bank's contract to repurchase bonds and in general assumpsit to recover the purchase price.
MR. JUSTICE STONE delivered the opinion of the Court.
This case, which comes here on certiorari to the Appellate Court of Illinois, First District, is a companion case to Awotin v. Atlas Exchange National Bank of Chicago, ante, p. 295 U. S. 209.
On November 2, 1929, petitioner purchased of respondent, a national banking association, four $1,000 mortgage bonds of the First National Company Collateral Trust. As an inducement and consideration for the purchase, the respondent agreed to repurchase the bonds at their maturity at par and accrued interest. In a suit brought by petitioner to recover for breach of the contract and in general assumpsit to recover the purchase price of the
bonds, the trial court gave judgment for petitioner, which was reversed by the Appellate Court, 275 Ill.App. 638 (opinion not reported), following its decision in Awotin v. Atlas Exchange National Bank, supra. The Supreme Court of the state denied leave to appeal. The issues raised are the same as those in the Awotin case. For the reasons stated in our opinion in that case, the judgment is