ACCORD AND SATISFACTION, § 23 — binding compromise agreement for pro-existing debt. Evidence sustained findings of trial court that defendant, insolvent corporation, agreed by correspondence to pay indebtedness, when and if it became financially able, in return for surrender of outstanding note, that subsequent oral compromise agreement in sum of $1,000 was entered into by officer of corporation with plaintiff in settlement of $1,625.15, pre-existing debt, that said officer, as only active manager of company, was authorized so to do, and that agreement was based upon sufficient consideration.
See Callaghan's Illinois Digest, same topic and section number.
Opinion by JUSTICE BRISTOW.
Not to be published in full. Opinion filed December 5, 1947; released for publication December 29 1947.