Wolff v. McGavock
Wisconsin Supreme Court
.APPEAL from tbe Circuit Court for Rode County. The plaintiffs commenced two actions against the defendant, one upon six and the otter upon three hills of exchange drawn on them by the defendant, which actions were, by order of the court and by consent of parties, consolidated and tried as one.
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.APPEAL from tbe Circuit Court for Rode County. The plaintiffs commenced two actions against the defendant, one upon six and the otter upon three hills of exchange drawn on them by the defendant, which actions were, by order of the court and by consent of parties, consolidated and tried as one. The defendant, by his answer, alleged that previous to the date of any such bills, he gave the plaintiffs a note for $5,000, payable six months after date, and secured by chattel mortgage, to secure them for future advances to be made by them from time to time on his drafts; that the moneys paid by the…
1Opinion of the CourtCole, J.
It is objected that the action upon the drafts in suit was prematurely .brought. It is claimed that the evidence *293shows that they were drawn upon a fund in the bands of the plaintiffs, wbicb was created by tbe chattel mortgage and $5,000 note, and that an action on them could not be maintained until the six months’ credit given on this note and mortgage had expired. But the obvious answer to this objection is, that it is expressly stated in this mortgage that it is given merely as “ collateral security ” for the payment of such sums of money as the plaintiffs should advance to the defendant.…
2Cases cited1 opinion
- Plant's Manufacturing Co. v. FalveyWisconsin Supreme Court · 1865
3Cited by3 opinions
- Cochran v. CraigWest Virginia Supreme Court · 1921
- Fuccy v. Coal & Coke Ry. Co.West Virginia Supreme Court · 1914
- Tribble v. Yakima Valley Transportation Co.Washington Supreme Court · 1918