Unsigned document in Lincoln’s hand, one page, 7.75 x 3.25, May 26, 1854. Lincoln pens a promissory note on behalf of his client. In full: “One year after date I promise to pay John Villars seven hundred dollars, with interest at ten per cent per annum from date until paid, interest payable annually in advance, the first years interest being now paid; value received.” The document is signed at the conclusion by Peter R. Leonard. Lincoln arrived in Danville, Illinois, on May 25, 1854, for the spring term of the Vermilion Circuit Court. John Villars, Sr. had hired Lincoln and sued Peter R. Leonard to collect on a promissory note. Court records show that the case was dismissed on May 31, 1854, and “on motion to the court by the counsel for the plaintiff [Lincoln] it is ordered by the court that this cause be dismissed at the cost of the plaintiff. It is further ordered by the court that leave be given to the defendant to withdraw note on file herein.” In settling the case, Lincoln prepared four promissory notes for Leonard to sign. This one, marked “A” in the left margin, was the first to become due. After Leonard failed to pay the first two notes, Villars sued to foreclose the mortgage. Leonard defaulted, and the Vermilion County Court ruled for Villars, awarded $1,836.80, and ordered Leonard to pay within 20 days. Leonard failed to pay, and the court sold the land to satisfy the judgment. In 1857, Leonard appealed to the Illinois Supreme Court on the grounds that his wife should have been a party in the case and that the court erred in decreeing compound interest (a violation of the law). Villars retained Lincoln once more as the case began in January 1858. Two years later, the Illinois Supreme Court reversed and remanded the judgment, agreeing that Sarah Leonard should have been a party since the foreclosure would deprive her of dower rights. Intersecting folds (partial separations to Leonard’s signature) and light toning and wrinkling, otherwise fine condition. Auction LOA John Reznikoff/PSA/DNA and R&R COA.
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