Howell v. Crawford
Supreme Court of Arkansas
Appeal from Nevada Chancery Court; James D. Shaver, Chancellor. Suit in chancery by Thomas J. Stewart against the Longview Lumber Company and Wm. M. Howell. Plaintiff recovered judgment, and defendant Howell appealed. Pending the appeal Stewart died, and the cause was revived in the name of John H. Crawford, as his administrator. The mere fact that the buyer is, to his own knowledge, insolvent at the time of purchase is no ground for relief to the seller.
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Appeal from Nevada Chancery Court; James D. Shaver, Chancellor. Suit in chancery by Thomas J. Stewart against the Longview Lumber Company and Wm. M. Howell. Plaintiff recovered judgment, and defendant Howell appealed. Pending the appeal Stewart died, and the cause was revived in the name of John H. Crawford, as his administrator. The mere fact that the buyer is, to his own knowledge, insolvent at the time of purchase is no ground for relief to the seller. Bigelow on Fraud, 484. Nor is it fraud merely to fail to disclose insolvency, if no inquiry is made as to financial condition. 14 Am. &…
1Opinion of the CourtRiddick, J.
In June, 1902, Thomas J. Stewart was the owner of a sawmill and other machinery connected therewith. He sold this property to the Longview Lumber Company, a corporation doing business at Prescott, Ark., for the sum of $2,000, and took the notes of the company therefor. Shortly afterwards Stewart sold the same company certain mules, horses, and wagons for the sum of $800, and took the notes of the company for the price thereof. The company at once sold this property to Wm. M. Howell, who had been connected with the company as secretary, and who, in connection with his brother, George Howell,…
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