Challis v. German National Bank
Supreme Court of Arkansas
Appeal from Crittenden Circuit Court. 1. The taking of a new note and mortgage is payment of the old note and releases the old mortgage, when such is the understanding of the parties.
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Appeal from Crittenden Circuit Court. 1. The taking of a new note and mortgage is payment of the old note and releases the old mortgage, when such is the understanding of the parties. Jones, Ch. Mortg., sec. 645; Herman, Ch. Mortg., sec. 168; 11 Ala. 775. When evidences of debt are surrendered and new security taken, this is frima facie evidence of the satisfagtion of the old securities. 46 Mich. 29 ; 11 Gray (Mass.), 190; 20 Minn. 411; 145 Mass. 357; 73 Ind. 429. 2. The second mortgage was not acknowledged, and was void against creditors and purchasers, even though they had actual notice. 9…
1Opinion of the CourtBattre, J.
George Bamberson, being indebted to the German National Bank in the sum of $2500 for money loaned, executed a deed to a trustee on the first day of February, 1889, whereby he mortgaged seventeen yoke of oxen and other personal property to secure the payment of the debt for $2500, and all other indebtedness which should be contracted by him with the bank on or before the first of January, 1890. This mortgage was duly acknowledged and recorded within sixteen days after its execution. His indebtedness to the bank having increased to the sum of $9554.48, he executed a second deed, on the 6th of…
2Cases cited1 opinion
- Akin & Co. v. PetersSupreme Court of Arkansas · 1885
3Cited by6 opinions
- Leonhard v. FloodSupreme Court of Arkansas · 1900
- Young v. Evans-Snyder-Buel Commission Co.Supreme Court of Missouri · 1900
- Adams-Burks-Simmons Co. v. JohnsonCourt of Appeals of Texas · 1908
- Spears v. RichSupreme Court of Arkansas · 1966
- Cameron v. CarsonCourt of Appeals of Texas · 1923
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