E. L. Welch Co. v. Gillett
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Eau Claire county: James O’Neill, Circuit Judge. Action upon promissory notes signed on the face thereof by •one William Putnam, not a party to the action, and on the back thereof by the. defendants. Plaintiff claims defendants signed as makers. They claim they signed as indorsers only, and as such were released by failure to give notice of nonpayment.
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Appeal from a judgment of the circuit court for Eau Claire county: James O’Neill, Circuit Judge. Action upon promissory notes signed on the face thereof by •one William Putnam, not a party to the action, and on the back thereof by the. defendants. Plaintiff claims defendants signed as makers. They claim they signed as indorsers only, and as such were released by failure to give notice of nonpayment. The trial court found they were makers of the notes and entered judgment against them for $6,840 and costs, from which they appealed.
1Opinion of the CourtVenue, J.
It appears that in the fall of 1907 one William Putnam was desirous of obtaining a loan of $6,000. He was then engaged in the buying and selling of wheat, and the plaintiff corporation was engaged in the wheat commission business at Minneapolis, Minnesota, and he applied to it for the loan. The result of the negotiation was that plaintiff agreed to let him have the money if he would transfer his wheat account to it, give a mortgage on some Dakota property as security, and procure defendants’ signatures to the notes. To this Putnam agreed. The notes were signed by him on the 10th of September…
2Cases cited8 opinions
- International Harvester Co. of America v. McAdamWisconsin Supreme Court · 1910
- Newman v. KershawWisconsin Supreme Court · 1860
- Brown v. GatesWisconsin Supreme Court · 1904
- Central Trust Co. of New York v. BurtonWisconsin Supreme Court · 1889
- McComb, Simpson & Co. v. ThompsonSupreme Court of Minnesota · 1858
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3Cited by5 opinions
- Jefferis v. AustinWisconsin Supreme Court · 1923
- Sandum v. JohnsonSupreme Court of Minnesota · 1913
- Union Bank of Milwaukee v. Commercial Securities Co.Wisconsin Supreme Court · 1916
- Browns Valley State Bank v. PorterCourt of Appeals for the Eighth Circuit · 1916
- Aaron v. MangoWisconsin Supreme Court · 1932