Frick v. Howard

23 Wis 2d 86, 126 N.W.2d 619 (1964)

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Nature of the Case

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Facts

Preston entered into a contract to buy real estate for $240,000. Several months later, he formed a corporation which purchased the land from him for $350,000. A $72,500 note resulting from the mortgage involved with this sale was assigned to Frick (P) in 1962. The corporation defaulted on the note, and a receivership was appointed, Howard (D).