Marine Bank v. International Bank
Wisconsin Supreme Court
TWO APPEALS PROM CIRCUIT COURT, MILWAUKEE COUNTY. The complaint of the Marine Bank averred, that it was a corporation in the State of New York, located at Buffalo; that the International Bank is also a corporation at the same place; that F. M. Hale made a mortgage to Cobb & Anderson, to secure the payment of $39,700, with interest, dated March .16, 1857; and also gave eight promissory notes, dated that day, and payable to Cobb & Anderson; one for $5,700, payable July 1st,…
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TWO APPEALS PROM CIRCUIT COURT, MILWAUKEE COUNTY. The complaint of the Marine Bank averred, that it was a corporation in the State of New York, located at Buffalo; that the International Bank is also a corporation at the same place; that F. M. Hale made a mortgage to Cobb & Anderson, to secure the payment of $39,700, with interest, dated March .16, 1857; and also gave eight promissory notes, dated that day, and payable to Cobb & Anderson; one for $5,700, payable July 1st, 1857, one for $6,000, payable July 1st, 185S, and five others for $5000 each, payable June 1st, 1859, 1860, 1861, 1862,…
1Opinion of the Court
By the Court,
Cox,e, J.
In the case of Wood et al. vs. Trask et al., 7 Wis. R., 566, decided at the last term of this court, we held that where there are several notes falling due at different times, and secured by the same mortgage, they are to be paid out of the mortgaged property, as a general rule, in the order of their maturity. In that case an undivided half of a second note had been assigned by one of the mortgagees to the assignor of Bailey, and an action was *65brought by the mortgagees to foreclose the mortgage, on default in the payment of the first note, still held by them,, when it…
2Cases cited3 opinions
- State Bank v. TweedyIndiana Supreme Court · 1847
- Basse v. GalleggerWisconsin Supreme Court · 1859
- Mechanics' Bank v. Bank of NiagaraNew York Supreme Court · 1832
3Cited by14 opinions
- Swearingen v. LahnerSupreme Court of Iowa · 1894
- Lawson v. WarrenSupreme Court of Oklahoma · 1912
- Shaw v. WellmanNew York Supreme Court · 1891
- Penzel v. BrookmireSupreme Court of Arkansas · 1888
- Shaw v. Crandon State BankWisconsin Supreme Court · 1911
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