German National Bank v. Barber
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Winnebago county: Geo. W. Burnell, Circuit Judge. This action was brought by the plaintiff to recover on four promissory notes made by the defendants.
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Appeal from a judgment of the circuit court for Winnebago county: Geo. W. Burnell, Circuit Judge. This action was brought by the plaintiff to recover on four promissory notes made by the defendants. There is no dispute concerning them except as to the note made on April 1, 1910, for $670. On the 21st day of March, 1892, one S. W. Plallock subscribed for five shares of the stock of the plaintiff bank and agreed to pay therefor the sum of $1,500. The defendant's agreed with the officers of the bank that Plallock should give his note for $1,000 and the defendants should indorse the same. This…
1Opinion of the CourtSiebecKER, J.
Upon the facts found by the referee the question is, Has the bank the right' to enforce the note in question against the defendants ? There is no dispute but that the bank surrendered to Hallock his stock without the knowledge and consent of the defendants. The surrender by the bank of the stock held by it to secure payment of Hal-lock’s note, which the defendants indorsed as an accommodation, without the knowledge and consent of the defendants, *112undoubtedly operated to release the defendants from their obligation as indorsers of the ITallock note, had they insisted thereon when it came to…
2Cases cited4 opinions
- Mastin Bank v. HammersloughSupreme Court of Missouri · 1880
- Porter v. HodenpuylMichigan Supreme Court · 1860
- Hooper v. PikeSupreme Court of Minnesota · 1897
- First National Bank of Black River Falls v. JonesWisconsin Supreme Court · 1896
3Cited by2 opinions
- Bosworth v. GreilingWisconsin Supreme Court · 1934
- First Wisconsin National Bank of Milwaukee v. PierceWisconsin Supreme Court · 1938