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ILLINI FEDERAL SAV. & LOAN ASS'N v. CHILDERS

No. 79-598.

88 Ill. App.3d 1124 (1980)

411 N.E.2d 110

ILLINI FEDERAL SAVINGS AND LOAN ASSOCIATION, Plaintiff-Appellant, v. CARL CHILDERS, JR., et al., Defendants-Appellees.

Appellate Court of Illinois — Fifth District.

Opinion filed September 25, 1980.

Attorney(s) appearing for the Case

James H. Bandy, of Listeman, Bandy & Hamilton, of Belleville, for appellant.

Sterling & Altman, P.C., of Fairview Heights, for appellees Charles Childers, Jr., and Ben A. Parrish.

Reversed and remanded.

Mr. PRESIDING JUSTICE JONES delivered the opinion of the court:

This case of first impression in Illinois presents the question of whether forfeiture of an installment contract for the sale of land serves to discharge guarantors of part of the purchase price where the contract provides that the liabilities of the guarantors "shall remain notwithstanding any forfeiture."

Plaintiff, Illini Federal Savings and Loan Association ...

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