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ESTATE OF PALMER

No. 494.

68 Wis.2d 101 (1975)

227 N. W. 2d 680

ESTATE OF PALMER: MARSHALL & ILSLEY BANK, Appellant, v. UNITED BANK OF MADISON, Successor Personal Representative of the Estate, Respondent.

Supreme Court of Wisconsin.

Decided April 10, 1975.

Attorney(s) appearing for the Case

For the appellant there were briefs by Churchill, Duback & Smith, attorneys, and John D. Bird, Jr., of counsel, all of Milwaukee, and oral argument by Mr. Bird.

For the respondents there was a joint brief by DeWitt, McAndrews & Porter, S. C. of Madison for respondent United Bank & Trust of Madison and by La Follette, Sinykin, Anderson & Abrahamson of Madison for respondent Ruth Ann Smith, and oral argument by Jack R. DeWitt and Shirley Abrahamson.

CONNOR T. HANSEN, J.

During his lifetime, Percy W. Palmer founded eight Wisconsin corporations, all generally engaged in the construction or construction-material business. In 1960, one of these companies, Prestressed Concrete Products Corp. (Prestressed) borrowed money from M & I. M & I required a guaranty from Percy W. Palmer and other members of the family to support this loan.

Also on May 2, 1968, Percy W. Palmer, Robert W. Palmer, Ray F. Palmer...

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