Swanby v. Northern State Bank
Wisconsin Supreme Court
Appeae from a judgment of tbe circuit court for Bayfield county: JohN K. Parish, Circuit Judge. This was originally an action brought against Marion and wife to foreclose a real-estate mortgage given by them October 6, 1906, to O. P. Swanby, plaintiff’s intestate, to secure payment of five negotiable notes of $450 each, payable to the order of Swanby, one falling due on Jannary 1, '1908, and one on January 1st of each year thereafter until January 1, 1912. Judgment of…
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Appeae from a judgment of tbe circuit court for Bayfield county: JohN K. Parish, Circuit Judge. This was originally an action brought against Marion and wife to foreclose a real-estate mortgage given by them October 6, 1906, to O. P. Swanby, plaintiff’s intestate, to secure payment of five negotiable notes of $450 each, payable to the order of Swanby, one falling due on Jannary 1, '1908, and one on January 1st of each year thereafter until January 1, 1912. Judgment of foreclosure was demanded on account of the notes falling due January 1, 1910, 1911, and 1912, with interest. It appears that…
1Opinion of the CourtWiNsnow, C. J.
Upon the principal question in this case, namely, the question whether the plaintiff or the bank was shown by the evidence to be the owner of the mortgage, there is no serious doubt. The notes were negotiable, payable to the order of Swanby, and had never been (so far as the evidence shows) indorsed, assigned, or transferred either by writing or by parol to the bank or any third person. In the absence of other evidence this proves ownership in Swanby. The possession of the bank was under no agreement of any kind with the payee.
*575Mere naked possession of negotiable paper payable to order does…
2Cases cited2 opinions
- Hemenway v. BeecherWisconsin Supreme Court · 1909
- Andrews v. PowersWisconsin Supreme Court · 1874
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- Allen v. HaysTennessee Supreme Court · 1917
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