First National Bank of Milwaukee v. Plankinton
Wisconsin Supreme Court
APPEAL from tlie Circuit Court for Milwaukee County. The defendant gave his own note to M. Von Baum-bach & Co., November 27, 1868, for the principal sum due by the terms of two notes previously made by E. Salomon & Bro. to the same payees, and upon which (they not having been paid at maturity) defendant had been charged as indorser.
Read the full summary
APPEAL from tlie Circuit Court for Milwaukee County. The defendant gave his own note to M. Von Baum-bach & Co., November 27, 1868, for the principal sum due by the terms of two notes previously made by E. Salomon & Bro. to the same payees, and upon which (they not having been paid at maturity) defendant had been charged as indorser. The plaintiff purchased defendant’s said note before maturity, in good faith, without knowledge of any facts invalidating it; and after it became due brought this action upon it. The defense was, that the. two notes of E. Salomon & Co. were void for usury. The…
1Opinion of the CourtDixon, C. J.
Plankinton, the maker of the note in suit, was the indorser and one of the parties liable for the payment of the previous alleged usurious note, in consideration of which the note in suit was given to the same payees. The note alleged to have been usurious was made by E. Salomon & Bro., and indorsed by Plankinton, who had been duly charged for its payment, and he gave this note in lieu of that, taking it up and obtaining an extension of time for sixty days upon payment of lawful interest to M. Yon Baumbach & Co., the payees. This was done by Plankinton in ignorance of the alleged usurious…
2Cases cited2 opinions
- Wood v. LakeWisconsin Supreme Court · 1860
- Otto v. DuregeWisconsin Supreme Court · 1861
3Cited by15 opinions
- Garvin v. LintonSupreme Court of Arkansas · 1896
- Clarke v. Lincoln Lumber Co.Wisconsin Supreme Court · 1884
- Baum v. ThomsIndiana Supreme Court · 1898
- Laun v. Pacific Mutual Life InsuranceWisconsin Supreme Court · 1907
- Lukens v. HazlettSupreme Court of Minnesota · 1887
10 more not listed; retrieve them via the Exa API.