Maas v. Hesse
Wisconsin Supreme Court
■ Appeal from a judgment of the circuit court for Milwaukee county; Oscar M. Fritz, Circuit Judge. Suit to foreclose four successive mortgages upon the same piece of property located in the city of Milwaukee. The trial court'adjudged that the first mortgage, now held by the state treasurer under the'provisions of sec. 2024 — 77j, Stats., was the'first lien to the extent of its principal sum.
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■ Appeal from a judgment of the circuit court for Milwaukee county; Oscar M. Fritz, Circuit Judge. Suit to foreclose four successive mortgages upon the same piece of property located in the city of Milwaukee. The trial court'adjudged that the first mortgage, now held by the state treasurer under the'provisions of sec. 2024 — 77j, Stats., was the'first lien to the extent of its principal sum. The appeal ,is:by parties having interests under the' second and third'mortgages and who'claim priority over the first mortgage. -The'only question presented is that óf thepri-ority of appellants’…
1Opinion of the CourtJones, J.
We have here one of those unfortunate' but far too frequent cases where corporations and,..their officers *79have won and betrayed the confidence of many trusting people some of whom have to be shipwrecked.
The holders of notes under the third mortgage were cheated by less intricate methods than are usually adopted by those planning to defraud. So far as appears, they accepted these notes secured by a third mortgage on the mere representation of the trust company that they were secured by a first lien, when the slightest, examination would have shown that there was a first mortgage for. $10,000…
2Cases cited5 opinions
- Fallass v. PierceWisconsin Supreme Court · 1872
- Butler v. Bank of MazeppaWisconsin Supreme Court · 1896
- Allison v. ManzkeWisconsin Supreme Court · 1903
- State ex rel. Sheldon v. DahlWisconsin Supreme Court · 1912
- McDonald v. SullivanWisconsin Supreme Court · 1908
3Cited by1 opinion
- Stock Growers Finance Corp. v. HildrethArizona Supreme Court · 1926