Clifford v. Federal Bank & Trust Co.

On November 29, 1927, appellant, James A. Clifford, borrowed $7,500 from appellee, for which he executed his promissory note payable March 29, 1928, four months after date. There was attached to this note as collateral certain shares of stock in the Little Bock Hardware & China Company, of which said Clifford was president. Said note contained, among others, this clause: “The undersigned also hereby agrees to give said bank or its assigns such additional collateral as the bank may at any time demand.” Early in March the appellee demanded additional security for said note, as, from an…