Felton v. Stacey
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Oconto county: W. B. Quinlan, Circuit Judge. Action to foreclose land contract.
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Appeal from a judgment of the circuit court for Oconto county: W. B. Quinlan, Circuit Judge. Action to foreclose land contract. The plaintiff, the owner of the real estate in question, a short time prior to January 3, 1919, negotiated with the defendant Frank Stacey for the sale of the same for the sum' of $12,000. Stacey had no money with which to make the initial' payment, but was the owner of certain personal property worth about $2,500, and plaintiff suggested that he was willing to take a chattel mortgage on the personal property to secure payment of the sum of $2,000. A few days later…
1Opinion of the CourtDoerfler, J.
In construing Exhibit 1 (defendants’ contract) it first becomes necessary to consider the objects and purposes the parties had in mind,when that portion of the contract was stricken out which obligated the party of the second part to pay the taxes. It is not disputed by the plaintiff that he was to pay the taxes on the property until the maturity of the contract and also the interest on the mortgage indebtedness of $8,000, but it is claimed by him that such payments were to be made out of the payments made by the party of the second part, and that such payments when so made constituted so…
2Cases cited2 opinions
- Julien v. Model Building, Loan & Investment Ass'nWisconsin Supreme Court · 1902
- Basse v. GalleggerWisconsin Supreme Court · 1859
3Cited by4 opinions
- Deree v. Reliable Tool & MacHine, Inc.Wisconsin Supreme Court · 1947
- Haase v. BlankWisconsin Supreme Court · 1922
- Rimling v. ScherperWisconsin Supreme Court · 1932
- Keller v. BaumgartnerCourt of Appeals for the Seventh Circuit · 1946