Marshall & Ilsley Bank v. Greene

{dissenting). The failure to accord full extent to the effect on the obligation of one party to a contract of a default by the other party is the basis of my objections to the decision. A contract is a plexus of mutual *167rights. It necessarily comprehends performance of various acts. Where the contract is executory on both sides and where the mutual promises are dependent, performance by one party cannot be required by the other party when in default amounting to a failure of consideration. 5 Page, Contracts (2d ed.), p. 5257, § 2977. In the case of Helbig v. Bonsness, ante, p. 52, 277 N. W.…