Northern National Bank v. Lewis
Wisconsin Supreme Court
APPEAL from the Circuit Court for St. Croix County. The following statement of the case was prepared by Mr. Justice Cassodat: This is an action to enforce collection against the makers and indorsers of two promissory notes, of which the following are copies, to wit: “ $3,199. St. Paul, Minn., July 23d, 1887. “ Sixty days after date we promise to pay to the order of Lewis <& Ferguson Bros., thirty-one hundred and ninety-nine dollars, at our office, St. Paul, value received,…
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APPEAL from the Circuit Court for St. Croix County. The following statement of the case was prepared by Mr. Justice Cassodat: This is an action to enforce collection against the makers and indorsers of two promissory notes, of which the following are copies, to wit: “ $3,199. St. Paul, Minn., July 23d, 1887. “ Sixty days after date we promise to pay to the order of Lewis <& Ferguson Bros., thirty-one hundred and ninety-nine dollars, at our office, St. Paul, value received, with interest before and after maturity at the rate-per cent. per annum until paid. [Signed] Rood & Maxwell.” “ $2,000.…
1Opinion of the CourtCassoday, J.
Lewis dk Ferguson Bros., as indorsers for Rood & Maxwell, can only be held liable on the notes in suit for any balance that may remain unpaid after applying thereon the net proceeds of any and all securities given by Rood & Maxwell to the plaintiff bank, or for its benefit, as collateral thereto. This general proposition is virtually conceded so far as the net proceeds on the foreclosure of the chattel mortgage are concerned. The defendants contend, however, that a much larger amount of the moneys received upon the foreclosure of the chattel mortgage should have, been applied upon the notes…
2Cases cited7 opinions
- Stowell v. EldredWisconsin Supreme Court · 1876
- Wiener v. WhippleWisconsin Supreme Court · 1881
- Hannan v. EngelmannWisconsin Supreme Court · 1880
- Kirschbon v. BonzelWisconsin Supreme Court · 1886
- Robbins v. LincolnWisconsin Supreme Court · 1860
2 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Zwietusch v. LuehringWisconsin Supreme Court · 1914
- First National Bank of Milwaukee v. FinckWisconsin Supreme Court · 1898
- Citizens Bank v. Whinery Bros.Supreme Court of Iowa · 1900
- Gilmore v. RobertsWisconsin Supreme Court · 1891
- M. A. Sweeney Co. v. FryIndiana Supreme Court · 1898
7 more not listed; retrieve them via the Exa API.