Lowe v. Reddan
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Clark county: James O’Neill, Circuit Judge. Action to recover on a promissory note for $1,000. Defendant Anthony Beddan answered that, if liable at all, it was only as an accommodation maker; that the note was given to the Clark County Bank with another of the same character,, the payee knowing his status as accommodation maker; that the due date of the note was extended by the bank for a valuable consideration, without his…
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Appeal from a judgment of the circuit court for Clark county: James O’Neill, Circuit Judge. Action to recover on a promissory note for $1,000. Defendant Anthony Beddan answered that, if liable at all, it was only as an accommodation maker; that the note was given to the Clark County Bank with another of the same character,, the payee knowing his status as accommodation maker; that the due date of the note was extended by the bank for a valuable consideration, without his consent, the bank releasing-to the principal debtor, J. IT. Reddan, securities for the payment thereof sufficient to…
1Opinion of the CourtMaeshall, J.
Many questions are presented for consideration on this appeal, tbe solution of ■which does not appear to be material to tbe final conclusion, and will, therefore, not be-discussed.
Assuming for tbe purposes of this case, but by no means-even suggesting that such is tbe law, that a bank having the-opportunity to protect a surety upon a note held by it, by asserting its right to offset against tbe same its indebtedness to tbe principal maker thereof upon his open deposit account
*92It owes to tlie surety the duty to exercise such opportunity, and that a failure to do so can be taken advantage of by…
2Cases cited20 opinions
- Paine v. . JonesNew York Court of Appeals · 1879
- Phares v. BarbourIllinois Supreme Court · 1868
- Taylor v. JeterSupreme Court of Missouri · 1856
- Allen v. HollingsheadIndiana Supreme Court · 1900
- Freaner v. YinglingCourt of Appeals of Maryland · 1873
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3Cited by7 opinions
- Defiance Machine Works v. GillWisconsin Supreme Court · 1920
- Webb v. FrengWisconsin Supreme Court · 1923
- Johnson v. LongleySupreme Court of Georgia · 1914
- State Bank of La Crosse v. MichelWisconsin Supreme Court · 1913
- Kunz v. BollWisconsin Supreme Court · 1909
2 more not listed; retrieve them via the Exa API.