Boone v. Goodlett
Supreme Court of Arkansas
Appeal from Arkansas Circuit Court. James S. Thomas, Judge. Where a note is given to cover supplies and money to be furnished, a failure to furnish a part thereof is a partial failure of consideration. 49 Ark. 430; 62 Ala. 443; 87 Ala. 409; 13 S. W. 521; 3 Pin. (Wis.) 78; 23 How. 14; 64 Ark. 39; 1 Jones, Mortg., § 374. Between a maker and payee of a note, the consideration is open to inquiry. 1 Dan. Neg. Inst. § 174; Smith, Merc.
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Appeal from Arkansas Circuit Court. James S. Thomas, Judge. Where a note is given to cover supplies and money to be furnished, a failure to furnish a part thereof is a partial failure of consideration. 49 Ark. 430; 62 Ala. 443; 87 Ala. 409; 13 S. W. 521; 3 Pin. (Wis.) 78; 23 How. 14; 64 Ark. 39; 1 Jones, Mortg., § 374. Between a maker and payee of a note, the consideration is open to inquiry. 1 Dan. Neg. Inst. § 174; Smith, Merc. Law, 338. And defendant may set up a partial or total failure of consideration. 1 Dan. Neg. Inst. §§ 201, 203. The account stated is in the nature of a new promise…
1Opinion of the CourtBattle, J.
This action is founded upon two promissory notes. It was instituted by Goodlett & Co. against Oliver Boone, Both notes were executed by defendant at Memphis, in the state of Tennessee, and were made payable to the order of plaintiffs. The first one was for the sum of $1250, was dated February 20, 1889, was due on or before January 1, 1890, and bore interest from date. Several sums of money, amounting in the aggregate to $380.47, were paid on the same. On the 4th of February, 1895, it was renewed by indorsement in writing thereon. The second was for the sum of $1137.95, was dated the 4th of…
2Cited by11 opinions
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- Carnehan v. ParkerSupreme Court of Arkansas · 1912
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