Ledwidge v. Arkansas National Bank
Supreme Court of Arkansas
Appeal from-Grarland Chancery Court; J. P. Henderson, Chancellor; 1. Appellant compromised his indebtedness with the bank and paid $2,250 in full satisfaction of all its claims and demands, and the bank accepted it in full payment and issued its receipt. If a mistake was made, this would not affect the composition and settlement. Appellant offered to correct the mistake, if made.
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Appeal from-Grarland Chancery Court; J. P. Henderson, Chancellor; 1. Appellant compromised his indebtedness with the bank and paid $2,250 in full satisfaction of all its claims and demands, and the bank accepted it in full payment and issued its receipt. If a mistake was made, this would not affect the composition and settlement. Appellant offered to correct the mistake, if made. The appellees’ claim was satisfied. 85 Ark. 439; 89 Id. 385. 2. An accord was made and agreed to and a tender of satisfaction made. If a mistake was made it only fixed appellants’ liability for the amount of the…
1DissentMcCULLOCH, C. J.
This is a suit in equity, and we are called on to enforce rights upon equitable principles, and I am unable to discover any principle upon which appellee can rightfully insist upon payment of more than was agreed should be paid in the composition of creditors. To do so is to violate the agreement which appellee entered into with the other creditors of Ledwidge to accept fifty per centum of its claim in full satisfaction; and on the other hand, a mere correction of the mistake in the settlement would give to appellee just what it agreed to accept, and would result in the enforcement of • all…
2Cases cited7 opinions
- Carpenter v. . KentNew York Court of Appeals · 1886
- P. J. Willis & Bro. v. MorrisTexas Supreme Court · 1885
- Whipple v. BakerSupreme Court of Arkansas · 1908
- Kullman v. GreenebaumCalifornia Supreme Court · 1891
- Hayes v. . DavidsonSupreme Court of North Carolina · 1874
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