Bank of Lodi v. Washburn Electric Light & Power Co.
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Bayfield county: John K. Paeish, Circuit Judge. The Bank of Washburn, holding an accommodation note, of $1,500, executed by defendant, transferred the same to plaintiff, for value, before due, the latter having no knowledge that it was accommodation paper. The note was indorsed by the Bank of Washburn and A. C. Probert, its president.
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Appeal from a judgment of the circuit court for Bayfield county: John K. Paeish, Circuit Judge. The Bank of Washburn, holding an accommodation note, of $1,500, executed by defendant, transferred the same to plaintiff, for value, before due, the latter having no knowledge that it was accommodation paper. The note was indorsed by the Bank of Washburn and A. C. Probert, its president. At maturity the note was renewed, the latter note bearing date August 12, 1895, and due in sixty days. Prior to its piaturity it was sent to the Bank of Washburn for collection. Not getting any returns from it,…
1Opinion of the CourtBardeeN, J.
The principal question on this appeal is whether respondent is bound by its election in suing the Bank of Washburn and A. C. Probert for money had and received for its use, upon the cause of action that it now sues appellant. It is a rule quite universal that where a party has a'choice between two inconsistent rights or remedies, and deliberately and with full knowledge makes his choice, such election becomes conclusive upon him and, precludes him from subsequently pursuing the other. Mariner v. M. & St. P. R. Co. 26 Wis. 84; Warren v. Landry, 74 Wis. 144; Crook v. First Nat. Bank, 83 Wis.…
2Cases cited3 opinions
- Crook v. First National Bank of BarabooWisconsin Supreme Court · 1892
- Warren v. LandryWisconsin Supreme Court · 1889
- Mariner v. Milwaukee & St. Paul Railway Co.Wisconsin Supreme Court · 1870
3Cited by9 opinions
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- Gay v. OsborneWisconsin Supreme Court · 1899
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