Marling v. Nommensen
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Milwaukee county: Lawbeitce W. Halsey, Circuit Judge. On November 3, 1897, the defendant Milwaukee Eealty Company executed its negotiable note and a mortgage securing the same upon certain premises in Milwaukee to Henry Herman. Said note was guaranteed by the defendants Agnew- and Maynard.
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Appeal from a judgment of the circuit court for Milwaukee county: Lawbeitce W. Halsey, Circuit Judge. On November 3, 1897, the defendant Milwaukee Eealty Company executed its negotiable note and a mortgage securing the same upon certain premises in Milwaukee to Henry Herman. Said note was guaranteed by the defendants Agnew- and Maynard. On December 10, 1897, Herman duly transferred said note and mortgage to the plaintiff, delivering the same to her with a written assignment, which she thereafter always retained, but did not record the assignment until April 17, 1903. On July 5, 1902, the…
1Opinion of the CourtDodge, J.
Appellant contends for reversal upon two theories : First, that the debt secured by plaintiffs mortgage is paid and the mortgage, therefore, discharged; and, secondly, on the ground that she is estopped to set up such mortgage against appellant, even if the debt be not paid. The first ground is fully negatived by our former decisions. The maker of a negotiable promissory note can satisfy it only by payment to the owner at the time or to such owner’s authorized agent. If the recipient of the money is not actually authorized the payment is ineffectual, unless induced by unambiguous direction…
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