Gibson v. Martin
Supreme Court of Arkansas
APPEAL from Jackson Circuit Court in Chancery. Hon. R. H. Powell, Circuit Judge; STATEMENT. In January, 1866, J. W. Golightly executed to J. N. S. Gibson, by the name of Spotwood Gibson, the following-deed, to-wit: “John W. Golightly To ^-Mortgage.
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APPEAL from Jackson Circuit Court in Chancery. Hon. R. H. Powell, Circuit Judge; STATEMENT. In January, 1866, J. W. Golightly executed to J. N. S. Gibson, by the name of Spotwood Gibson, the following-deed, to-wit: “John W. Golightly To ^-Mortgage. “Spotwood Gibson. ‘ ‘Know all men by these presents : That I, John W. Go-lightly, for and in consideration of one dollar, in hand paid, and for the further consideration that Spotwood Gibson has executed, as security for the party of the first part, a promissory note for the sum of seven hundred and eighty dollars, due the twenty-fifth day of…
1Opinion of the CourtHarrison, J.
It is apparent, from the face of the conveyance from Golightly to the appellant, that it was intended as an indemnity to the appellant against his liability in the note to Jones; and the circumstances attending its execution also clearly show that to have been its object and pur-, pose. There is nothing upon its face, or in the attending circumstances, from which it might be inferred that a conditional sale, rather than a mortgage, was intended, and even if there could be a doubt as to which was intended, the law would construe it to be a mortgage, rather than a conditional sale. 1 Jones on…
2Cited by3 opinions
- Dicken v. SimpsonSupreme Court of Arkansas · 1915
- Land v. MaySupreme Court of Arkansas · 1904
- Heldman Clothing Co. v. OatesSupreme Court of Arkansas · 1918