Road Improvement District No. 4 v. Southern Trust Co.
Supreme Court of Arkansas
Appeal from Pulaski 'Chancery Court, John E. Martmeau, Chancellor; Appellee is not a bona fide holder of the note. The note was not negotiable nor was it rendered so by the letters of Buster and Mosley. C. & M. Dig., § 7767. The time of payment was indefinite in that it depends on the sale of the bonds to S. R. Morgan & Co., which contingency never happened.
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Appeal from Pulaski 'Chancery Court, John E. Martmeau, Chancellor; Appellee is not a bona fide holder of the note. The note was not negotiable nor was it rendered so by the letters of Buster and Mosley. C. & M. Dig., § 7767. The time of payment was indefinite in that it depends on the sale of the bonds to S. R. Morgan & Co., which contingency never happened. C. & M. Dig., § 7770. The two contemporaneous writings, i. e., the resolntion of the board and the note, must be construed as one and the same instrument. 8 C. J. 196; 3 R. C. L. 883; 5 Ann. Cas. 151, note; 28 Ark. 387. The resolution…
1Opinion of the CourtWood, J.
Road Improvement District No. 4 of Cleveland County, Arkansas, (hereafter called district) was created and organized under act No. 618 of the General Assembly of Arkansas, .2 Road Acts of 1919, p. 2286, approved April 2, 1919. The district was created and organized for the purpose of building a certain highway in Cleveland County, Arkansas. E. R. Buster, T. E. Mosley and J. A. Griffin were named in the act as the board of commissioners of the district. Under the terms of the act (section 4) the board elected E. R. Buster president and T. E. Mosley secretary and treasurer of the district. On…
2Cases cited11 opinions
- McDonough v. WilliamsSupreme Court of Arkansas · 1905
- Bayou Meto Drainage District v. ChaplineSupreme Court of Arkansas · 1920
- Riggin v. HillardSupreme Court of Arkansas · 1892
- Mann v. UrquhartSupreme Court of Arkansas · 1909
- Plummer v. School District Number 1Supreme Court of Arkansas · 1909
6 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Walther & Cie v. US Fidelity & Guaranty CompanyDistrict Court, M.D. Pennsylvania · 1975
- Arkansas State Highway Commission v. KerbySupreme Court of Arkansas · 1927
- Road Improvement Dist. No. 7 of Poinsett County v. Guardian Savings & Trust Co.Court of Appeals for the Eighth Circuit · 1925
- C. A. Rees & Co. v. PaceSupreme Court of Arkansas · 1923
- Kersh Lake Drainage Dist. of Jefferson, Lincoln, & Desha Counties v. State Bank & Trust Co.Court of Appeals for the Eighth Circuit · 1936
6 more not listed; retrieve them via the Exa API.