Fort v. Black
Supreme Court of Arkansas
APPEAL from Monroe Circuit Court. M. T. Sanders, Circuit Judge. STATEMENT. This was an action to recover a mare seized by the de-defendants under a chattel mortgage executed by the plaintiff to Tomlinson and Letson, who sold it together with the debt secured, to the defendants.
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APPEAL from Monroe Circuit Court. M. T. Sanders, Circuit Judge. STATEMENT. This was an action to recover a mare seized by the de-defendants under a chattel mortgage executed by the plaintiff to Tomlinson and Letson, who sold it together with the debt secured, to the defendants. The mortgage was executed on the 11th day of May, 1883, to secure a promissory note of that date for $200 « given?v as recited in the mortgage “ for supplies furnished and to be furnished " * * * (“All amounts in excess of said sum to be first paid before any part of first $200 is paid.”) It embraced in addition to the…
1Opinion of the Court
OPINION.
GockrilIj, C. J.
1. Chattel Mortgage: For future supplies within limited time. The mortgage was executed to secure the payment of a past due account and any sum that might become due for supplies to be furnished by mortgagees to the mortgagor by the first of October lowing. That security for advances to be made was limited to the amount that might be due on the day indicated, is obvious from the language of the mortgage. It recites that it was executed to secure the note due-October 1st, and “ all other indebtedness that might (may) then be due the parties of the first part.”
It is…
2Cited by13 opinions
- Kissire v. Plunkett-Jarrell Grocer Co.Supreme Court of Arkansas · 1912
- American Bank Trust v. First Nat'l Bank of ParisSupreme Court of Arkansas · 1931
- Bonham v. JohnsonSupreme Court of Arkansas · 1911
- Howell v. WalkerSupreme Court of Arkansas · 1914
- Hollan v. American Bank of Commerce & Trust Co.Supreme Court of Arkansas · 1925
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