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IN RE LIQUIDATION OF LA CROSSE SAND & GRAVEL CO.

13 Wis.2d 41 (1961)

IN RE LIQUIDATION OF LA CROSSE SAND & GRAVEL COMPANY: MARSHALL & ILSLEY BANK, Executor, Respondent, v. RORAFF, Receiver, Appellant.

Supreme Court of Wisconsin.

March 7, 1961.

Attorney(s) appearing for the Case

For the appellant there were briefs by Johns, Roraff, Pappas & Flaherty of La Crosse, and oral argument by Leonard Roraff.

For the respondent there was a brief by Steele, Smyth, Klos, Thompson & Flynn of La Crosse, and oral argument by Robert D. Smyth.

BROWN, J.

The evidence leaves no doubt but that Mr. and Mrs. Meyer intended to pledge the dredging equipment as security to the loan and Mr. Klein intended to receive that security and at the time of the transaction the parties believed that they were carrying out those intentions. As sole officers and shareholders of the corporation, Mr. and Mrs. Meyer had complete domination over the property, could pledge it for a loan...

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