Penzel Co. v. Jett
Supreme Court of Arkansas
APPEAL from Hempstead Circuit Court. Charles E. Mitchel, Judge., A deed .of trust in the nature of a mortgage was executed 'by W. A. Jett, an insolvent merchant, for the benefit of certain of his creditors. Suit in attachment was brought to test its validity. Plaintiff has appealed from a judgment sustaining the conveyance and dismissing the attachment.
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APPEAL from Hempstead Circuit Court. Charles E. Mitchel, Judge., A deed .of trust in the nature of a mortgage was executed 'by W. A. Jett, an insolvent merchant, for the benefit of certain of his creditors. Suit in attachment was brought to test its validity. Plaintiff has appealed from a judgment sustaining the conveyance and dismissing the attachment. The case depends upon the construction to be given to the instrument on its face, plaintiffs contending that it was in ■effect an assignment for the benefit of creditors, and void because not executed in compliance with the statute regulating…
1Opinion of the Court
Cockrill, C. J. ^
when mortgage construed .mente assign" It is contended that because there is a defeasance clause and no evidence dehors the instrument to control its meeting, it must be construed to be a mortgage, and cannot be declared an assignment for the benefit of creditors. But to ascertain whether the parties intended the instrument as a security for debts, or as an absolute appropriation of the property described to raise a fund to pay the debts, all its provisions must be read together. If, when viewed as a whole, the intent of the parties is found to be the former, the instrument…
2Cited by9 opinions
- Appolos v. BradyCourt of Appeals for the Eighth Circuit · 1892
- United States v. Benjamin Gargill, TrusteeCourt of Appeals for the First Circuit · 1955
- Rainwater-Boogher Hat Co. v. MalcolmCourt of Appeals for the Eighth Circuit · 1892
- Beall v. CowanCourt of Appeals for the Ninth Circuit · 1896
- Marquese v. FelsenthalSupreme Court of Arkansas · 1893
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