Frank v. Schroeder

CourtUnited States State Supreme Court of Wisconsin
Writing for the CourtWICKHEM
Citation239 Wis. 159,300 N.W. 254
PartiesFRANK v. SCHROEDER.
Decision Date02 December 1941

239 Wis. 159
300 N.W. 254

FRANK
v.
SCHROEDER.

Supreme Court of Wisconsin.

Oct. 7, 1941.
Rehearing Denied Dec. 2, 1941.


Appeal from an order of the Circuit Court of Milwaukee County; Gustave G. Gehrz, Judge.

Affirmed.

This is an action by Agnes Wall Frank, commenced on October 19, 1940, against Walter Schroeder, defendant, to recover upon an alleged guaranty of real estate bonds by defendant. The complaint alleges that on May 1, 1928, Breithaupt Realty Company of Milwaukee executed a deed of trust to Chris. Schroeder & Son Co. and Fred W. Krueck, Milwaukee, as trustees, to secure the issue of certain first mortgage bonds to be sold by Chris. Schroeder & Son Co. That on August 11, 1928, defendant under seal executed an unconditional guaranty of these bonds. The guaranty states its purpose to be to obtain from the Railroad Commission of Wisconsin a permit for the sale of the bonds and to that end to improve the security of the bonds. According to the terms of the bonds, defendant guarantees the prompt payment of principal and interest on each and all of the said bonds and “performance by the said Breithaupt Realty Co. of all of its obligations of said trust agreement”. The guaranty is under seal and is “signed, sealed and delivered in presence of” two witnesses. It is further alleged that on August 20, in reliance upon the guaranty, the Railroad Commission issued a permit for the sale of the guaranteed bonds and that certain bonds were sold under the permit to one John H. Wahl of Milwaukee; that Wahl died on September 13, 1935, and that on the 23rd of March, 1936, his will was admitted to probate and William H. Wahl and Agnes Wahl Frank appointed executors; that on December 21, 1936, the final decree of the County Court assigned certain of the guaranteed bonds to plaintiff, Agnes Wahl Frank. The complaint further alleges default by the Breithaupt Realty Co. and demands judgment against defendant upon the guaranty. The answer admits execution of the guaranty set forth in the complaint, but denies that any consideration was given for its execution. Defendant further sets forth as a defense that the guaranty was given in response to a demand by the Railroad Commission for a guaranty in order that the underwriter might receive a permit for the sale of the bonds. That after various conferences and after the mailing of a duplicate of the guaranty to the Railroad Commission the requirement for a guaranty was abandoned and that there never was a valid...

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3 practice notes
  • Mitchell Bank v. Schanke, No. 01-1590
    • United States
    • United States State Supreme Court of Wisconsin
    • February 27, 2004
    ...upon an executory instrument shall be received as only presumptive evidence of a sufficient consideration." See also Frank v. Schroeder, 239 Wis. 159, 162, 300 N.W. 254 (1941) (noting "[a] seal is conclusive of consideration only in the case of executed contracts."); Singer v. Gen. Acc., Fi......
  • Hanson v. Halvorson
    • United States
    • United States State Supreme Court of Wisconsin
    • October 16, 1945
    ...114, 2 N.W.2d 714;Unmack v. McGovern, 236 Wis. 639, 296 N.W. 66;City of Milwaukee v. Heyer, 241 Wis. 56, 4 N.W.2d 126;Frank v. Schroeder, 239 Wis. 159, 300 N.W. 254;Sullivan v. State, 213 Wis. 185, 251 N.W. 251, 91 A.L.R. 877;Prime Mfg. Co. v. A. F. Gallun & Sons Corp., 229 Wis. 348, 281 N.......
  • Security Nat. Bank v. Cohen, No. 174
    • United States
    • United States State Supreme Court of Wisconsin
    • March 4, 1969
    ...Thompson, Real Property (1958 replacement), p. 382, sec. 4745. 4 (1947), 250 Wis. 90, 93, 26 N.W.2d 156. 5 See Frank v. Schroeder (1941), 239 Wis. 159, 300 N.W. 6 See Singer v. General Accident, Fire & Life Assurance Corp. (1935), 219 Wis. 508, 262 N.W. 702. ...
3 cases
  • Mitchell Bank v. Schanke, No. 01-1590
    • United States
    • United States State Supreme Court of Wisconsin
    • February 27, 2004
    ...upon an executory instrument shall be received as only presumptive evidence of a sufficient consideration." See also Frank v. Schroeder, 239 Wis. 159, 162, 300 N.W. 254 (1941) (noting "[a] seal is conclusive of consideration only in the case of executed contracts."); Singer v. Gen. Acc., Fi......
  • Hanson v. Halvorson
    • United States
    • United States State Supreme Court of Wisconsin
    • October 16, 1945
    ...114, 2 N.W.2d 714;Unmack v. McGovern, 236 Wis. 639, 296 N.W. 66;City of Milwaukee v. Heyer, 241 Wis. 56, 4 N.W.2d 126;Frank v. Schroeder, 239 Wis. 159, 300 N.W. 254;Sullivan v. State, 213 Wis. 185, 251 N.W. 251, 91 A.L.R. 877;Prime Mfg. Co. v. A. F. Gallun & Sons Corp., 229 Wis. 348, 281 N.......
  • Security Nat. Bank v. Cohen, No. 174
    • United States
    • United States State Supreme Court of Wisconsin
    • March 4, 1969
    ...Thompson, Real Property (1958 replacement), p. 382, sec. 4745. 4 (1947), 250 Wis. 90, 93, 26 N.W.2d 156. 5 See Frank v. Schroeder (1941), 239 Wis. 159, 300 N.W. 6 See Singer v. General Accident, Fire & Life Assurance Corp. (1935), 219 Wis. 508, 262 N.W. 702. ...

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