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RICHMAN v. SECURITY SAVINGS & LOAN ASSO.

No. 21.

57 Wis.2d 358 (1973)

204 N.W.2d 511

RICHMAN and others, Appellants, v. SECURITY SAVINGS & LOAN ASSOCIATION, Respondent.

Supreme Court of Wisconsin.

Decided February 27, 1973.

Attorney(s) appearing for the Case

For the appellants there was a brief by Silverstein, Richman, Reneau, Tabak & Temple, attorneys, and Thomas M. Jacobson of counsel, all of Milwaukee, and oral argument by David L. Walther of Milwaukee.

For the respondent there was a brief by Schoendorf & Schoendorf, and Joseph F. Schoendorf, Jr., attorneys, and Michael L. Sorgi of counsel, all of Milwaukee, and oral argument by Joseph F. Schoendorf, Jr.

BEILFUSS, J.

The theory of the complaint was an action for conversion for breach of a fiduciary duty. The relief demanded was an accounting for the profits made by defendant on the tax and insurance deposits.

Plaintiffs have filed a reply brief raising for the first time in this case the contention that the tax and insurance deposit provisions of the mortgage note violated sec. 138.04, Stats. Under this new theory, the plaintiffs assert the deposits are installment...

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