McCown v. Russell
Wisconsin Supreme Court
APPEAL from the County Court of Winnebago County. E. W. Smith was a merchant in Oshkosh, and the garnishee, B. C. Bussell, was a banker at the same place.
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APPEAL from the County Court of Winnebago County. E. W. Smith was a merchant in Oshkosh, and the garnishee, B. C. Bussell, was a banker at the same place. On January 31, 1888, Smith executed to said Bussell a bond in the penal sum of $20,000, reciting, among other things, that said Smith was then justly indebted to divers persons, in all not exceeding $12,000; that said Bussell did not in any manner thereby bind himself or agree to advance money sufficient to pay the indebtedness, of said Smith; that said Bussell was about to advance to said Smith moneys to enable him to pay his said…
1Opinion of the CourtCassoday, J.
It will be observed from the foregoing statement that the bond and mortgage were given for future advances to be paid by the mortgagee and garnishee, Bussell, to the debtor and mortgagor, F. W. Smith, for the purposes therein mentioned. Such a mortgage is valid, even as against attaching or garnishing creditors of the mortgagor, to the extent that the advances are actually made or the liability actually incurred, but void, as to such attaching or garnishing creditors, in so far as the advances have not been made nor any liability incurred. Carter v. Rewey, 62 Wis. 556; First Nat. Bank v.…
2Cases cited9 opinions
- Winner v. HoytWisconsin Supreme Court · 1886
- Robinson v. . WilliamsNew York Court of Appeals · 1860
- Divver & Gunton v. McLaughlinNew York Supreme Court · 1829
- Carter v. ReweyWisconsin Supreme Court · 1885
- Maxwell v. SimontonWisconsin Supreme Court · 1892
4 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- In re the Estate of CoffinNew York Surrogate's Court · 1934
- Batten v. Jurist (Northwestern Nat. Bank, Etc., Co.)Supreme Court of Pennsylvania · 1931
- Bank of Centerville v. GelhausSouth Dakota Supreme Court · 1932
- Gore v. BruckerWisconsin Supreme Court · 1896
- Kiel Wooden Ware Co. v. RaederWisconsin Supreme Court · 1942
3 more not listed; retrieve them via the Exa API.