Northwestern Mutual Life Insurance v. Drown
Wisconsin Supreme Court
APPEAL from the Circuit Court for /Saule County. Action upon a bond and mortgage. The bond was executed by the Baraboo Manufacturing Company, and M. J. Drown, William Andrews, B. F. Mills, G. A. Sumner, H. B. Ryan, 8. W. Ryan and A..
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APPEAL from the Circuit Court for /Saule County. Action upon a bond and mortgage. The bond was executed by the Baraboo Manufacturing Company, and M. J. Drown, William Andrews, B. F. Mills, G. A. Sumner, H. B. Ryan, 8. W. Ryan and A.. A. Avery; and it was conditioned for the payment of $5,000 to the plaintiff in five years from its date, with interest, etc., and for the delivery to plaintiff at its office in Milwaukee, on or before the first of May in each year, of duplicate receipts of the proper officers, showing payment of all taxes levied or assessed on the mortgaged premises during the…
1Opinion of the CourtCole, C. J.
It is not entirely clear that the condition of the bond imposed upon the appellants the obligation of paying the insurance money which the respondent paid out after the judgment of foreclosure and sale was rendered. The Baraboo Manufacturing Company was undoubtedly bound by the covenants of its mortgage to repay this money. Eor the purposes of this case we assume that the appellants incurred the same responsibility. The question then arises, Could that liabili ty be enforced in theynanner attempted in this suit? It seems to us it coirld not. A reference to the steps taken in the cause is all…
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- Strandell v. StrandWashington Supreme Court · 1914