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Prudential Insurance Company of America v. Spencer’s Kenosha Bowl, Inc.
Court of Appeals of Wisconsin
404 N.W.2d 109 (1987)
Spencer’s Kenosha Bowl, Inc. (Spencer’s) (defendant) purchased a property subject to a mortgage held by Prudential Insurance Company of America (Prudential) (plaintiff). Spencer’s did not assume the grantor’s mortgage. The grantor defaulted and Prudential commenced foreclosure proceedings on the property. Prudential claimed Spencer’s committed waste on the property that harmed the property value. Prudential sought damages. The trial court found Spencer’s committed waste and awarded damages to Prudential. Spencer’s appealed.
Rule of Law
Holding and Reasoning (Nettesheim, J.)
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