Commercial National Bank of Appleton v. Smith
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Outaga-mie county: JohN GoodlaND, Circuit Judge. This action was brought to recover on a promissory note for' $1,000 executed by the defendant Goodrich to one Eow-ell, and by him sold to the plaintiff. The defendant Smith was made a party, as haying signed a guaranty on the back of the note, as follows: “I hereby guaranty the payment of the within note. A. L. Smith.'” Goodrich defaulted.
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Appeal from a judgment of the circuit court for Outaga-mie county: JohN GoodlaND, Circuit Judge. This action was brought to recover on a promissory note for' $1,000 executed by the defendant Goodrich to one Eow-ell, and by him sold to the plaintiff. The defendant Smith was made a party, as haying signed a guaranty on the back of the note, as follows: “I hereby guaranty the payment of the within note. A. L. Smith.'” Goodrich defaulted. Smith answered in abatement that Eowell was a joint owner of the note with plaintiff, and asked that he be made a party. Tie admitted signing the guaranty as…
1Opinion of the CourtRaRdeeN, J.
On its face the' guaranty was confessedly bad, under subd. 2, sec. 2307, Stats. 1898, because it failed to express any consideration. It was so held early in the history of this state, and the rule so announced has never been departed from. Taylor v. Pratt, 3 Wis. 674. In a later case (Parry v. Spikes, 49 Wis. 384) the question was again *577reviewed, and the conclusion in Taylor v. Pratt was affirmed; the court holding that a written guaranty upon a promissory note, though referring to the note, and made at the time with it, and constituting a ground of the credit to the maker, is void, by the…
2Cases cited4 opinions
- Dyer v. GibsonWisconsin Supreme Court · 1863
- Clapp v. WebbWisconsin Supreme Court · 1881
- Taylor v. PrattWisconsin Supreme Court · 1854
- Parry v. SpikesWisconsin Supreme Court · 1880
3Cited by14 opinions
- Rowell v. SmithWisconsin Supreme Court · 1905
- Mann v. Erie Manufacturing Co.Wisconsin Supreme Court · 1963
- Langley v. SanbornWisconsin Supreme Court · 1908
- M. J. Wallrich Land & Lumber Co. v. EbenreiterWisconsin Supreme Court · 1934
- McCord v. Edward Hines Lumber Co.Wisconsin Supreme Court · 1905
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