73 Wis. 46 | Wis. | 1888
It is alleged in the answer that the note was given to the plaintiff in payment for capital stock of the company, which was of par value at the time. Since it was indorsed by the appellant before it was so delivered to the plaintiff, there could be no question but what the indorsement was based upon a good and valuable consideration
It is alleged, in effect, that some six months after the plaintiff obtained such stock he falsely represented to the appellant that the affairs and business of the company were in good condition, whereby she was lulled into inactivity and rest concerning her liability on the note. But that is no ground for defending against the note, nor of any action against the plaintiff, since the appellant parted with nothing on the faith of such representations.
But the ground most relied upon as a defense is the alleged carelessness and negligence of the plaintiff as a director and officer of the corporation which issued such stock so held as collateral, whereby the same became substantially worthless. There are cases where general allegations of carelessness and negligence in the performance or nonperformance of some specific act have been held good on demurrer. Young v. Lynch, 66 Wis. 514. But it is verj^ doubtful whether such general allegations, without reference to any specific act, as here, constitute actionable negligence. Cahill v. Layton, 57 Wis. 614; Pratt v. Lincoln Co. 61 Wis.
For these and other reasons which might be given we are forced to the conclusion that the answer fails to state facts sufficient to constitute a defense.
By the Court.— The order of the circuit court is affirmed.