Appeal from the Circuit Court of Jo Daviess County, Fifteenth
Judicial Circuit; the Hon. EDWARD J. TURNBAUGH, Judge, presiding.
MR. JUSTICE SEIDENFELD DELIVERED THE OPINION OF THE COURT.
Rehearing denied August 1, 1969.
Defendant appeals from an adverse judgment for $30,000, arising from a breach of contract action heard by the court.
The court found for plaintiff on the theory that the defendant had made the following contract impossible of being performed:
"This agreement dated May 22, 1963, by and between Kenneth J. Hansen, Kenneth Johnston and Chestnut Hills Resort, Inc.
"1. Kenneth J. Hansen hereby agrees to vacate the premises he now occupies at Chestnut Hills Resort, Inc., within one week from the date of this agreement.
"2. Kenneth Johnston hereby agrees that he will pay to Kenneth J. Hansen for all his right, title and interest in and to any stock that he may own in Chestnut Hills Resort, Inc. the sum of $30,000.00. This sum shall be paid as follows:
"(a) If Kenneth Johnston secures financing in the sum of $350,000 he will pay the $30,000 to Kenneth J. Hansen when the loan proceeds of $350,000 are disbursed.
"(b) If Kenneth Johnston is unable to secure financing in the sum of $350,000 then the $30,000 will be paid after all corporate debts due of this date are repaid. It is agreed between the parties that in this instance the $30,000 will be paid from corporate profits.
"3. The parties agree that Kenneth J. Hansen shall have the right to secure a mortgage for the Corporation for $350,000 and if he succeeds he shall receive his $30,000 as hereinabove provided.
"4. Kenneth J. Hansen shall be released from all personal liability to the State Bank of Freeport and the Elizabeth State Bank. Any collateral at these banks belonging to Hansen shall likewise be released.
"5. Hansen hereby agrees to release to Johnston any and all records in his possession pertaining to ...