Burnham v. Merchants' Exchange Bank
Wisconsin Supreme Court
Appeal from a judgment of the superior court of Milwaukee county: J. C. Ludwig, Judge. This is an action of replevin to recover the possession of a promissory note for $5,000. The note is dated June 12, 1893, and due three months after date. The plaintiff claims the note on the ground that it is a part of a trust estate of ■which he is the trustee. The defendant claims to own the note by purchase as a Iona fide purchaser from a former trustee.
Read the full summary
Appeal from a judgment of the superior court of Milwaukee county: J. C. Ludwig, Judge. This is an action of replevin to recover the possession of a promissory note for $5,000. The note is dated June 12, 1893, and due three months after date. The plaintiff claims the note on the ground that it is a part of a trust estate of ■which he is the trustee. The defendant claims to own the note by purchase as a Iona fide purchaser from a former trustee. It appears that one John B. Koetting was the trustee of the estate of one Clark Shepardson. As such trustee, he held the promissory note which is the…
1Opinion of the Court
NewmaN, J".
Tbe plaintiff, as trustee of tbe estate of Sbepardson, tbe original owner, is'now tbe owner and entitled to the possession of tbe note in controversy, unless bis title has been divested, and a better title acquired by the defendant, through tbe transaction by wbicb it was pledged’ for tbe debts of tbe South Side Savings Bank. Tbe defendant has derived no better title unless it is established by the-evidence that it is a bona fide purchaser of tbe note, for none-but a bona fide purchaser of commercial paper derives a better title than bis vendor bad. "While tbe title of tbe…
2Cases cited8 opinions
- Wheeler v. . NewbouldNew York Court of Appeals · 1857
- Bowman v. Van KurenWisconsin Supreme Court · 1871
- Roberts v. HallSupreme Court of Connecticut · 1870
- Body v. JewsenWisconsin Supreme Court · 1873
- Hull v. SwarthoutMichigan Supreme Court · 1874
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Jerome Movrich v. David J. LobermeierWisconsin Supreme Court · 2018