Corbett v. Joannes
Wisconsin Supreme Court
Appeal from a judgment of tine circuit court for Brown county: Samuel D. Hastíeos, Circuit Judge. The following is the substance of the complaint: First ca-use of action.
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Appeal from a judgment of tine circuit court for Brown county: Samuel D. Hastíeos, Circuit Judge. The following is the substance of the complaint: First ca-use of action. November 11, 1901, plaintiff being largely indebted to defendants as firm of Joannes Bros., and having two real-estate mortgages, for the purpose of paying defendants, in part, it was mutually agreed that he should release such mortgages; that the property affected thereby should be conveyed to the defendants; that they should hold the same until an advantageous sale thereof could be made; and the proceeds of such sale up to…
1Opinion of the CourtMaeshaul, J.
This cause seems to have proceeded up to the close of the oral argument here on the mistaken theory that in case of an assignment for the benefit of creditors, one holding a secured claim cannot share with the general creditors pari passu without covering his security into the trust fund; that otherwise his status as a beneficiary is to be determined by the face of his claim at the date of the assignment less the value of his security. Hence for the assignor not to report the collateral as part of the trust fund, or for the secured creditor to participate in the trust or in any proceeding…
2Cases cited19 opinions
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Harrigan v. GilchristWisconsin Supreme Court · 1904
- Juilliard v. . ChaffeeNew York Court of Appeals · 1883
- Hubbard v. MarshallWisconsin Supreme Court · 1880
- Hoffman v. MaffioliWisconsin Supreme Court · 1899
14 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Klueter v. Joseph Schlitz Brewing Co.Wisconsin Supreme Court · 1910
- Kipp v. LaunWisconsin Supreme Court · 1911
- President of Kilbourn City v. Southern Wisconsin Power Co.Wisconsin Supreme Court · 1912
- Western Lime & Cement Co. v. Copper River Land Co.Wisconsin Supreme Court · 1909
- Burton v. DouglassWisconsin Supreme Court · 1909
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