Charter Oak Life Insurance v. Sawyer
Wisconsin Supreme Court
APPEAL from the Circuit Court tov Milwaukee County. Plaintiff took from the defendant Sawyer, at Milwaukee in this state, in 1864, a bond for the payment of moneys then loaned to him by plaintiff, and a mortgage of land in this state as a further security therefor. This action was brought on the bond and mortgage, upon an alleged default of said defendant.
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APPEAL from the Circuit Court tov Milwaukee County. Plaintiff took from the defendant Sawyer, at Milwaukee in this state, in 1864, a bond for the payment of moneys then loaned to him by plaintiff, and a mortgage of land in this state as a further security therefor. This action was brought on the bond and mortgage, upon an alleged default of said defendant. The complaint alleges that plaintiff is, and was at the times of the transactions therein mentioned, a corporation created by a certain specified statute of the state of Connecticut, having its principal place of business in Hartford in…
1Opinion of the Court
ByaN, O. J.
Insurance companies in other states are bound *388by statute to certain prescribed compliances, in order to authorize them to transact the business of insurance in this state. But compliance with that statute is not necessary to enable them to take securities in this state for debts due to them by residents of the state.
And if it ever were a doubtful question whether corporations of one state could maintain suits in another state, it is no longer so. Such suits are now supported by judicial decisions in all the states. It would be intolerable injustice if a creditor corporation in one…
2Cited by13 opinions
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- Hart v. Livermore Foundry & Machine Co.Mississippi Supreme Court · 1895
- American Building & Loan Ass'n v. RainboltNebraska Supreme Court · 1896
- Chicago Title & Trust Co. v. BashfordWisconsin Supreme Court · 1904
- Loveland v. WarnerOregon Supreme Court · 1922
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