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5-M LTD. v. DEDE

Nos. 77-396, 77-397.

86 Wis.2d 287 (1978)

272 N.W.2d 110

5-M LTD., Plaintiff-Respondent, v. DEDE, Defendant-Appellant and Third-Party Plaintiff: STEINMAN, and others, Third-Party Defendants Respondents. 5-M LTD., Plaintiff-Respondent, v. DEDE, Defendant-Appellant and Third-Party Plaintiff: STEINMAN, Defendant-Respondent and Third-Party Plaintiff: PERSSION, and another, Third-Party Defendants Respondents.

Court of Appeals of Wisconsin.

Decided October 27, 1978.

Attorney(s) appearing for the Case

For the defendant-appellant, the cause was submitted on the briefs of Lichtsinn, Dede & Haensel, S.C., with Eldred Dede of counsel, of Milwaukee.

For the plaintiff-respondent the cause was submitted on the briefs of Fiorenza, Weiss, Amato & Persa, S.C., with John A. Fiorenza and Paul M. Lohmann, of counsel, of Milwaukee.

Before Decker, C.J., Cannon, J., and Robert W. Hansen, Reserve Judge.

HANSEN, J.

The facts in this case are not complex, 5-M, Ltd. entered into an offer to purchase agreement with Concordia Fund, Inc. for the purchase of a certain hotel in Milwaukee. 5-M made a $10,000 downpayment to be held in trust by Dede. Prior to the original closing date Dede delivered the $10,000 downpayment to Concordia Fund as requested by Steinman, Concordia's president. This transfer was made without the knowledge or approval of 5-M and was used to pay Concordia...

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