Kasten v. G. A. Zuehlke Mortgage Loan Co.

The defendant appeals from an order overruling a demurrer to the complaint on the ground that it does not state facts sufficient to constitute a cause of action.

The main contention of the appellant is that the indorsement is not a guaranty of payment but a guaranty of collection. The specific provision that the defendant “guarantees the payment” of the note “at maturity or at any time thereafter, with interest at five per cent, per annum until paid,” clearly makes the guaranty one of payment. This is an absolute promise to pay the note. Estate of Menzner, 189 Wis. 340, 207 N. W. 703; O’Neil…