Hughes v. Johnson
Supreme Court of Arkansas
APPEAL from Jefferson Circuit Court in Chancery. Hon. X. J. Pindall, Circuit Judge. STATEMENT. On the twenty-ninth of May, 1876, W. Gr.
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APPEAL from Jefferson Circuit Court in Chancery. Hon. X. J. Pindall, Circuit Judge. STATEMENT. On the twenty-ninth of May, 1876, W. Gr. Hughes and bis wife executed to Moss & Bell, merchants at Pine Bluff, a mortgage upon certain lands and personal property, and fifty bales of cotton, to be raised on their place and the Holcomb place, in Jefferson county, that year, conditioned : “That, whereas, the said Hughes and wife are indebted to the said Moss & Bell in the sum of two hundred and fifty dollars ($250), for goods, wares, merchandise and supplies, furnished to them during the year 1876,…
1Opinion of the CourtEakin, J.
1. mortEffect of assignmegee’s debt',
The mortgagees did not lose their interest in the instrument by its assignment to the complainant, as trustee, on twenty-seventh of June, 1876. They themselves owed McGehee, Snowden and Yiolette, and it was then, and remained a beneficial security for their own claim against the mortgagors, inasmuch as its enforcement would inure to their benefit. The clause of forfeiture in a court of equity amounts to nothing.
It is further clear from the proof that the New Orleans firm left the whole management in the hands of Moss & Bell, who agreed to go on after the…
2Cited by14 opinions
- Briggs v. SteeleSupreme Court of Arkansas · 1909
- McWhorter v. TysonSupreme Court of Alabama · 1919
- Cofer v. BensonSupreme Court of Georgia · 1894
- Pool v. GatesSupreme Court of Kansas · 1925
- Baumgartner v. McKinnonCourt of Appeals of Georgia · 1912
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