BOARD OF EDUCATION OF COMMUNITY SCHOOL DISTRICT NO. 220 V. VILLAGE OF HOFFMAN ESTATES
126 Ill. App. 3d 625 (1984)
NATURE OF THE CASE: This was a dispute over funds held in escrow.
FACTS: In 1975, two groups of developers desiring to have certain tracts of land annexed
to Village (D) entered into annexation agreements with D. The owners would pay D the sum of
$135 per residential lot and those funds would be held in escrow for the benefit of
education and that for five years from the execution of the agreement, the parties would use
their best efforts to cause the area in question to be annexed by School District 15. If the
annexation efforts were unsuccessful the escrow funds were to be paid to District 220 at the
end of the five-year period. Before the five years expired the parties extended it another 9
years and if those efforts were again unsuccessful the monies were to be paid to District
220. District 220 (P) sued at the end of the five-year period claiming it was the donee
beneficiary under the contract between the owners and D and that the parties had no power to
alter the agreement without P's consent. The trial court ruled that the execution of the
agreement created a vested right in P and gave P summary judgment. D appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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