McCollum v. Neimeyer
Supreme Court of Arkansas
Appeal from Pulaski Circuit Court, Third Division; G. W. Hendricks, Judge; 1. The promise was a collateral undertaking which created no debt until'demand for performance; and, demand having been made February 28, 1918, and refused, the suit is not barred by limitation. 4 Ark. 214; 9 Pick.
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Appeal from Pulaski Circuit Court, Third Division; G. W. Hendricks, Judge; 1. The promise was a collateral undertaking which created no debt until'demand for performance; and, demand having been made February 28, 1918, and refused, the suit is not barred by limitation. 4 Ark. 214; 9 Pick. (Mass.) 490. 2. Where the time of payment is not determined but remains to be fixed by one of the parties, a demand is necessary befor^ suit. 4 Ark. 533. 3. The statute of limitations runs only from the time of contingency happening and not from the time of the promise. 1 Wm. Blackst. Rep. 352. 4. The…
1Opinion of the CourtHumphreys, J.
On January 29, 1919, appellant instituted suit against appellees in the Pulaski Circuit Court, Third Division, to recover $1,500 and interest thereon at the rate of six per cent, per annum from April 8, 1907, upon a repurchase contract of $1,500 of the stock of the A. J. Neimeyer Lumber Company, a corporation.
The gist of the complaint is that appellant was induced on April 8, 1907, by A. J. Neimeyer, who was the president of said corporation and a large stockholder therein, to purchase $1,500 worth of stock at par, in said corporation, with the understanding that he, A. J. Neimeyer, should…
2Cases cited6 opinions
- Collins v. MackSupreme Court of Arkansas · 1877
- Sturdivant v. McCorleySupreme Court of Arkansas · 1907
- Rogers v. OgburnSupreme Court of Arkansas · 1915
- Brooks v. Trustee Co.Washington Supreme Court · 1913
- St. L., I. M. & .S. Ry. v. BrownSupreme Court of Arkansas · 1887
1 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Magee v. Mercantile-Commerce Bank & Trust Co.Supreme Court of Missouri · 1939
- Williams v. PurdySupreme Court of Arkansas · 1954
- Elm Springs State Bank v. BradleySupreme Court of Arkansas · 1929
- State, Use Glover v. McIlroy.Supreme Court of Arkansas · 1938
- Bryan v. ThomasSupreme Court of Arkansas · 1956
3 more not listed; retrieve them via the Exa API.