Bennington County Savings Bank v. Lowry
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Douglas county: Byeon B. Panic, Judge. Plaintiff brings this action to recover $450 and interest thereon and for the foreclosure of a mortgage and the sale of the property mortgaged. The plaintiff is a' foreign corporation organized under the laws of the state of Vermont.
Read the full summary
Appeal from a judgment of the circuit court for Douglas county: Byeon B. Panic, Judge. Plaintiff brings this action to recover $450 and interest thereon and for the foreclosure of a mortgage and the sale of the property mortgaged. The plaintiff is a' foreign corporation organized under the laws of the state of Vermont. On April 1, 1905, the defendant William Lowry, a resident of Superior, Wisconsin, borrowed of the plaintiff the sum of $450, giving his promissory note therefor, whereby he promised to repay this amount with interest in three years, and as security for the loan he gave a…
1Opinion of the CourtSiebecKER, J.
It is admitted that the defendant’ Lowry borrowed the $450 from the plaintiff and that the bank is a foreign corporation and at the time of making the loan had not complied with the provision of sec. 17707?, Stats., to obtain a license to do business in this state. Under the statutes of this state, when the loan was made in April, 1911, the mortgage, at the election of the defendant Loiory, was invalid as to the bank, which precluded the bank from enforcing the mortgage in any manner. Lanz-Owen & Co. v. Garage E. M. Co. 151 Wis. 555, 139 N. W. 393. By ch. 214, Laws of 1911, amending sub. 2,…
2Cases cited6 opinions
- Gross v. United States Mortgage Co.Supreme Court of the United States · 1883
- National Surety Co. v. Architectural Decorating Co.Supreme Court of the United States · 1912
- West Side Belt Railroad v. Pittsburgh Construction Co.Supreme Court of the United States · 1911
- Pittsburg Construction Co. v. West Side Belt RailroadSupreme Court of Pennsylvania · 1909
- Single v. Supervisors of Marathon CountyWisconsin Supreme Court · 1875
1 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Wisconsin Trust Co. v. MundayWisconsin Supreme Court · 1918
- State ex rel. Johnson v. Union Free High School DistrictWisconsin Supreme Court · 1923