Kennedy v. Knight
Wisconsin Supreme Court
APPEAL from tlie Circuit Court for La Fayette County. Action commenced in May, 1864, to foreclose a mortgage executed by Knight and wife to the Farmers’ Bank of Saratoga, New York, in 1857, to secure his note of the same date for $5000, at one year, with interest at ten per cent., payable at Darlington in this state, with the current rate of exchange on New York.
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APPEAL from tlie Circuit Court for La Fayette County. Action commenced in May, 1864, to foreclose a mortgage executed by Knight and wife to the Farmers’ Bank of Saratoga, New York, in 1857, to secure his note of the same date for $5000, at one year, with interest at ten per cent., payable at Darlington in this state, with the current rate of exchange on New York. The complaint alleges that the bank, “ by its president duly authorized thereto,” for value, “ duly endorsed and delivered” said note, and also delivered said mortgage, to the plaintiff. The answer denies any knowledge &c., “as to…
1Opinion of the CourtCole, J.
The objection taken by the counsel for the appellants, that the mortgage was void because not made to the president of the bank, seems to us untenable. The mortgage was made to the bank itself. The general banking law of New York authorized the banking association to hold and convey such real estate as might be mortgaged to it in good faith by way of security for loans made by or moneys due to such association. This mortgage was given to the bank for a purpose for which it was expressly authorized to take mortgages. And although it was further provided in the general statute, that all…
2Cases cited3 opinions
- City Bank of New Haven v. . PerkinsNew York Court of Appeals · 1864
- Wiswell v. BaxterWisconsin Supreme Court · 1866
- Rock River Bank v. SherwoodWisconsin Supreme Court · 1860
3Cited by8 opinions
- Hayes v. FreyWisconsin Supreme Court · 1882
- City of Madison v. MayersWisconsin Supreme Court · 1897
- R. R. Ricou & Sons Co. v. MerwinSupreme Court of Florida · 1927
- Hanley v. KraftczykWisconsin Supreme Court · 1903
- Drake v. HarrisonWisconsin Supreme Court · 1887
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