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FIRST NAT. BANK v. MOTORS ACCEPTANCE CORP.

15 Wis.2d 44 (1961)

FIRST NATIONAL BANK OF WAUKESHA, Respondent, v. MOTORS ACCEPTANCE CORPORATION, Appellant.

Supreme Court of Wisconsin.

November 28, 1961.

Attorney(s) appearing for the Case

For the appellant there were briefs by Blakely, Long. Grutzner & Jaeckle of Beloit, and oral argument by J. Richard Long.

For the respondent there was a brief by Lowry, Hunter & Tikalsky of Waukesha, and oral argument by Donald J. Tikalsky.

MARTIN, C. J.

The following stipulations under ch. 116, Stats. (N. I. L.), were made by the parties: The 10 notes given Sauer by defendant, and plaintiff's draft, were all negotiable instruments under sec. 116.02, Stats. Sauer procured the 10 notes from defendant by fraud, thus rendering his title to the notes defective under sec. 116.60. Plaintiff met all the requirements of a holder in due course under sec. 116.57. There...

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