Daskam v. Ullman
Wisconsin Supreme Court
APPEAL from the Circuit Court for Winnebago County. In January, 1885, the plaintiff purchased from the defendants two promissory notes made by one Samuel Preston, paying therefor the full amount of the notes with interest to the date of purchase. He also took an assignment of a chattel mortgage and a mortgage of land which had been given to secure the notes. Immediately after the purchase he seized the mortgaged chattels and sold them, under authority given by the mortgage.
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APPEAL from the Circuit Court for Winnebago County. In January, 1885, the plaintiff purchased from the defendants two promissory notes made by one Samuel Preston, paying therefor the full amount of the notes with interest to the date of purchase. He also took an assignment of a chattel mortgage and a mortgage of land which had been given to secure the notes. Immediately after the purchase he seized the mortgaged chattels and sold them, under authority given by the mortgage. In February, 1885, he commenced an action to foreclose the mortgage of land. The defendants in that action pleaded…
1Opinion of the CourtCole, C. J.
Were the defendants concluded by the judgment in the foreclosure case on the question as to the payment of the notes which they sold the plaintiff? It is not denied that the defendants had sold these notes to the plaintiff for all that appeared on their face to be due upon them. This being so there was surely a warranty implied in law that they had not been paid: for it is the settled law-in this state that, in the assignment of an instrument or contract in writing, even not negotiable, for a full and fair price, the assignor impliedly warrrants that it is valid, and that the maker is liable…
2Cases cited10 opinions
- Robbins v. Chicago CitySupreme Court of the United States · 1867
- Inhabitants of Westfield v. MayoMassachusetts Supreme Judicial Court · 1877
- Armstrong v. PercyNew York Supreme Court · 1830
- Delaware Bank v. . JarvisNew York Court of Appeals · 1859
- Giffert v. WestWisconsin Supreme Court · 1873
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3Cited by10 opinions
- Rowell v. SmithWisconsin Supreme Court · 1905
- Meyer v. RichardsSupreme Court of the United States · 1896
- Goldberg v. Sisseton Loan & Title Co.South Dakota Supreme Court · 1909
- Carroll v. NodineOregon Supreme Court · 1902
- Galbreath v. WallrichSupreme Court of Colorado · 1909
5 more not listed; retrieve them via the Exa API.