Haase v. Ramsay

The issue in this case is whether the appellant real-estate broker furnished a consideration for the promissory note sued upon.

Sec. 116.33, Stats., provides:

“Absence or failure of consideration is matter of defense as against any person not a holder in due course; . . .”

The want or failure of consideration as between the original parties to a promissory note is always open to investigation. Garlie v. Rowe (1928), 197 Wis. 257, 221 N. W. 749, 223 N. W. 93, and Schwenker v. Johnson (1929), 198 Wis. 300, 224 N. W. 117.

The testimony discloses that the plaintiff, Louis H. Haase, is a licensed…