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LINCOLN CREST REALTY v. STANDARD APT. DEVEL.

No. 274.

61 Wis.2d 4 (1973)

211 N.W.2d 501

LINCOLN CREST REALTY, INC., Respondent, v. STANDARD APARTMENT DEVELOPMENT OF WEST ALLIS, INC., and others, Defendants: MIDLAND NATIONAL BANK, Appellant.

Supreme Court of Wisconsin.

Decided October 30, 1973.

Attorney(s) appearing for the Case

For the appellant there were briefs by Charne, Glassner, Tehan, Clancy & Taitelman, S. C., and oral argument by Ronald S. Jacobs, all of Milwaukee.

For the respondent there was a brief by Foley & Lardner, and oral argument by James O. Huber, all of Milwaukee.

HEFFERNAN, J.

The threshold question to be decided is to whom did the balance in the checking account belong on February 3, 1971, the date of Midland's offset. If the deposited sum had vested in Lincoln Crest under the terms of Standard's assignment to it, Midland could not offset that sum as being the property of Standard. Whether that assignment to Lincoln Crest had been accomplished is dependent upon the terms of the lease. The relevant portion of the lease provides...

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