Salter v. Bank of Eau Claire
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Eau Claire county: "W. F. Bailey, Circuit Judge.' The plaintiffs were judgment creditors of the defendant Smith to an amount exceeding $4,000, and on the 29th day of November, 1895, garnished the Pioneer Furniture Company in aid of execution.
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Appeal from a judgment of the circuit court for Eau Claire county: "W. F. Bailey, Circuit Judge.' The plaintiffs were judgment creditors of the defendant Smith to an amount exceeding $4,000, and on the 29th day of November, 1895, garnished the Pioneer Furniture Company in aid of execution. The garnishee answered, admitting that it had bought of Smith certain lumber, amounting to $1,663.47, which had all been delivered prior to the garnishment, but which had not been paid for, and that the Ranh of Eau Olavre claimed the money due for the lumber. The Ranh of Eau Olaire was thereupon impleaded…
1Opinion of the CourtWiNslow, J.
It was vigorously contended by the appellant that the bill of sale of the lumber to the bank was not *87■a mortgage, as held by the circuit court, but was an absolute bill of sale, which vested title to the lumber in the bank unconditionally. We are unable to agree with this contention. Though absolute in form, it was in fact given as security only for the payment of a debt. There was unquestionably an equity of redemption left in the mortgagor. Had he been able to pay the debt at any time before the foreclosure of the mortgage and sale of the lumber, he would have been entitled to receive back…
2Cases cited2 opinions
- Kickland v. Menasha Wooden Ware Co.Wisconsin Supreme Court · 1887
- First National Bank of Madison v. DammWisconsin Supreme Court · 1884
3Cited by10 opinions
- Cuddy v. ForemanWisconsin Supreme Court · 1900
- In Re BaumgartnerCourt of Appeals for the Seventh Circuit · 1931
- Caroline State Bank v. AndrewsWisconsin Supreme Court · 1931
- Carpenter v. ForbesWisconsin Supreme Court · 1933
- Perkins v. McAuliffeWisconsin Supreme Court · 1900
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