Trust me, it's there. Or rather, to be more specific, there are TWO places in the "slime caves" parts of that level where you need to go.
1) Big false wall (If you're having trouble seeing the false walls, have a Thief wander around Detcting Traps--as if you haven't been doing enough Trap-detecting already), and behind the false wall are some nice, clean hallways. At one point in those hallways, there is a door. Behind that door lies the chair that you need.....BUT THE DOOR IS LOCKED AND YOU DON'T HAVE THE KEY! WAAAAHHHH!!!!
2) Another false wall that leads to more slimy caves. Joy. Wander around and you'll run into a Greater Ghoul that has a name. Just like most of the named creatures you've met so far, you'll have a nice chat, and then you'll kill him. Loot a Wardstone from his corpse.
Oh, both of these places involve walking on the slime, by the way. (So....are we to deduce from this that Durlag was a masochist?)
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Volothamp's Comeuppance
Everything you ever needed to know about the entire Baldur's Gate series......except spoilers.
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