El Dorado Improvement Co. v. Citizens' Bank
Supreme Court of Arkansas
Appeal from Union Circuit Court; Charles W. Smith, Judge; STATEMENT BY THE COURT. This suit was brought in Union Circuit Court by the Citizens’ Bank on a note executed February 4, 1903, payable to the Citizens’ Bank, for $2,000, with interest at ten (10) per cent, from date until paid. Said note was signed El Dorado Improvement Company, by E. H. Smith, Secretary.
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Appeal from Union Circuit Court; Charles W. Smith, Judge; STATEMENT BY THE COURT. This suit was brought in Union Circuit Court by the Citizens’ Bank on a note executed February 4, 1903, payable to the Citizens’ Bank, for $2,000, with interest at ten (10) per cent, from date until paid. Said note was signed El Dorado Improvement Company, by E. H. Smith, Secretary. There had been a payment made on said note which reduced it to something over $1,500. The complaint alleges that this note was made by E. H. Smith, secretary of the appellant herein. Defendant in due time filed its answer, which…
1Opinion of the Court
Hart, J.,
(after stating the'facts.) The appellant bases error on the first instruction given by the court at the instance of the plaintiff as follows.: “If you find that the El Dorado Improvement Company, or its owners, derived any benefit from the same, then you will find for the plaintiff.” This instruction was erroneous. The uncontradicted testimony in the case shows that the El Dorado Improvement Company is a corporation, and that the note sued upon was issued as accommodation paper by E.'* H. Smith to secure a personal loan to himself, and that the corporation never authorized or…
2Cases cited3 opinions
- Klein v. German National BankSupreme Court of Arkansas · 1901
- Stiewel v. Webb Press Co.Supreme Court of Arkansas · 1906
- Texarkana & Fort Smith Railway Co. v. Bemis Lumber Co.Supreme Court of Arkansas · 1900
3Cited by4 opinions
- Simmons National Bank v. Dilley Foundry Co.Supreme Court of Arkansas · 1910
- Hamburg Bank v. Ouachita Nat. Bank in MonroeCourt of Appeals for the Eighth Circuit · 1935
- Buena Vista Veneer Co. v. HodgesSupreme Court of Arkansas · 1915
- Hitching Post Lodge, Inc. v. KerwinCourt of Appeals of Arizona · 1966