Schultz v. Plankinton Bank
Appellate Court of Illinois
In error to the Circuit Court of Cook County; the Hon. Area H. Waterman, Judge, presiding. In 1888 Henry Schultz, was doing business in Milwaukee, Wisconsin, under the style of “ The H. Schultz Cloak Manufacturing Company,” and was indebted to the Plankinton Bank of Milwaukee.
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In error to the Circuit Court of Cook County; the Hon. Area H. Waterman, Judge, presiding. In 1888 Henry Schultz, was doing business in Milwaukee, Wisconsin, under the style of “ The H. Schultz Cloak Manufacturing Company,” and was indebted to the Plankinton Bank of Milwaukee. He desired to secure more money from the bank, and in order to do this, asked his son, Albert Schultz, to indorse his note to the bank for $2,000, who accordingly consented and indorsed the fohowing note, at Chicago : “ Milwaukee, June 18, 1888. “ Hinety days after date I promise to pay to the order of Albert Schultz…
1Opinion of the CourtMoran, P. J.
It is well settled in this State that where a mortgage secures several notes due at different times, and there is no special agreement to the contrary, the notes are entitled to payment from the proceeds of the mortgaged property in the order m which they become due and payable. Marseilles Manufacturing Company v. Rockford Plow Company, 26 Ill. App. 198, and cases there cited.
Assuming, for the purpose of inquiring as to the rule of law applicable to the question presented, that the affidavit states facts, admissible as evidence, as they are therein stated, to show that the bank made the…
2Cases cited11 opinions
- Lawrence v. . FoxNew York Court of Appeals · 1859
- Renner v. Bank of ColumbiaSupreme Court of the United States · 1824
- Martin v. ColeSupreme Court of the United States · 1881
- Schemerhorn v. VanderheydenNew York Supreme Court · 1806
- Mason v. BurtonIllinois Supreme Court · 1870
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3Cited by8 opinions
- Randal v. DekaAppellate Court of Illinois · 1956
- Union Special Sewing Machine Co. v. LockwoodAppellate Court of Illinois · 1903
- Carpenter v. WhiteAppellate Court of Illinois · 1891
- Evans v. Schriver Laundry Co.Appellate Court of Illinois · 1894
- Chicago Bank of Commerce v. KraftAppellate Court of Illinois · 1933
3 more not listed; retrieve them via the Exa API.