Wisconsin Marine & Fire Insurance Co. Bank v. Wilkin
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Milwaukee county: D. H. Johnson, Circuit Judge. This is an action on a contract of guaranty, which is in the following words: “Whereas, the Wilkin Manufacturing Company, of Milwaukee, is indebted to the Wisconsin Marine dk Fire Insurance Company Bank, of Milwaukee, Wisconsin, in the sum of about $9,000 (nine thousand dollars); “And wheeeas, the said company may hereafter become indebted to said bank for additional amounts;…
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Appeal from a judgment of the circuit court for Milwaukee county: D. H. Johnson, Circuit Judge. This is an action on a contract of guaranty, which is in the following words: “Whereas, the Wilkin Manufacturing Company, of Milwaukee, is indebted to the Wisconsin Marine dk Fire Insurance Company Bank, of Milwaukee, Wisconsin, in the sum of about $9,000 (nine thousand dollars); “And wheeeas, the said company may hereafter become indebted to said bank for additional amounts; “Now, therefore, in consideration of the premises, and of one dollar to each of us in hand paid, the receipt whereof is…
1Opinion of the Court
The following opinion was filed December 15, 1896:
Maeshall, J.
This case turns on the construction of the contract of guaranty. The learned trial judge held that, by the terms of the contract, there was created a several, not a joint, liability; that each of the defendants who signed as guarantor became liable only for such portion of the indebtedness of the Wilkin Manufacturing Company as the amount of stock held by him in such company, at the date of the contract, bore to the whole amount of capital then paid in to said company. It is claimed on the part of plaintiff that the contract is a…
2Cases cited13 opinions
- Hartung v. WitteWisconsin Supreme Court · 1884
- Nilson v. MorseWisconsin Supreme Court · 1881
- Green Bay & Mississippi Canal Co. v. HewettWisconsin Supreme Court · 1882
- Jacobs v. SpaldingWisconsin Supreme Court · 1888
- Gibbons v. GrinselWisconsin Supreme Court · 1891
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