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CODO v. UNION NAT. BANK & TRUST CO. OF JOLIET

No. 76-268.

370 N.E.2d 140 (1977)

54 Ill. App.3d 810

12 Ill.Dec. 517

Norman F. CODO, Plaintiff-Appellant, v. UNION NATIONAL BANK AND TRUST COMPANY OF JOLIET, a National Banking Association, not Individually but as Trustee under Trust Agreement dated June 8, 1972, known as Trust No. 1278, and Richard F. Janko, Defendants-Appellees, and Frank J. Nustra and Unknown Owners, Defendants.

Appellate Court of Illinois, Second District.

November 21, 1977.

Attorney(s) appearing for the Case

Diver, Brydges, Bollman, Grach & Riseborough, Robert M. Bollman, Waukegan, for appellant.

Rosing & Carlson, William G. Rosing, Waukegan, for defendants-appellees.

BOYLE, Justice.

Norman F. Codo, hereinafter "plaintiff", and Richard F. Janko, hereinafter "defendant", entered into an oral partnership arrangement in the Spring of 1972. The partnership purchased approximately 20 acres of undeveloped real estate in Round Lake, Illinois, for $120,000. Each partner's contribution was $60,000 in cash, and this unencumbered real estate was then conveyed to the Union National Bank and Trust Company of Joliet, hereinafter "the bank",...

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