Barnett v. Bank of Pangburn
Supreme Court of Arkansas
Appeal from Cleburne Chancery Court; L., F. Reeder, Chancellor; STATEMENT OE FACTS. E. B. Crump brought this suit in equity against T. N. Barnett, Harry Chur chill, and the Bank of Pangburn to recover damages for a breach of warranty and for the cancellation of two notes given by him for the purchase price of the lands described in his complaint.
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Appeal from Cleburne Chancery Court; L., F. Reeder, Chancellor; STATEMENT OE FACTS. E. B. Crump brought this suit in equity against T. N. Barnett, Harry Chur chill, and the Bank of Pangburn to recover damages for a breach of warranty and for the cancellation of two notes given by him for the purchase price of the lands described in his complaint. The Bank of Pangburn answered, claiming that it was the owner of the notes mentioned, and averred that it had a lien on the lands described in the complaint for the payment of said notes. T. N. Barnett filed a separate answer in which he set up that…
1Opinion of the CourtHart, J.
(after stating the facts). The issue raised by the appeal has been narrowed down to the question of whether or not the two notes for $750 each have been paid. Barnett assumes the affirmative of this issue and the Bank of Pangburn the negative. One of the $750 notes was delivered to the Pangburn State Bank, and the other $750 note was transferred to it by Churchill, the president of the bank, as collateral security. Both notes were held by the Pangburn State Bank and were turned over to the Bank of Pangburn when it was organized and had taken over the assets and assumed the liabilities of the…
2Cases cited1 opinion
- Binghampton Trust Co. v. AutenSupreme Court of Arkansas · 1900
3Cited by2 opinions
- Lynch v. GarnesSupreme Court of Arkansas · 1957
- Wilde v. ZimmermanWyoming Supreme Court · 1934