Hebert v. Fellheimer
Supreme Court of Arkansas
Appeal from G-arland Chancery Court; J. P. Henderson, Chancellor; STATEMENT BY THE COURT. F. H. Olmstead and wife, Louisa Olmstead, conveyed certain lands by warranty deed on December 1, 1906, to W. S. Mackey, for a consideration of $3,500, the deed reciting $500 paid in cash and the balance evidenced by 150 notes for $20 each, dne monthly, and a vendor’s lien reserved therein to secure the payment of the notes.
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Appeal from G-arland Chancery Court; J. P. Henderson, Chancellor; STATEMENT BY THE COURT. F. H. Olmstead and wife, Louisa Olmstead, conveyed certain lands by warranty deed on December 1, 1906, to W. S. Mackey, for a consideration of $3,500, the deed reciting $500 paid in cash and the balance evidenced by 150 notes for $20 each, dne monthly, and a vendor’s lien reserved therein to secure the payment of the notes. The notes for the deferred payments were negotiable promisso'ry notes for $20 each, payable to the order of F. H. Olmstead, with 8 per cent, interest, and each recitéd that it was a…
1Opinion of the Court
Kirby, J.,
(after stating the facts). (1) A vendor’s lien Was retained in the recorded deed from Olmstead to Mackey to- secure the unpaid- purchase money evidenced by the 150 $20 negotiable promissory notes, as- recited in the deed, and Fellheimer, in the usual course of trade for value, and before maturity, purchased 100 of said notes and the same were endorsed and delivered to him. By said purchase he became the innocent holder thereof and entitled to enforce the lien for their payment. Section 510, Kirby’s Digest; Smith v. Butler, 72 Ark. 350; Pullen v. Ward, 60 Ark. 90.(2) The later…
2Cases cited4 opinions
- Koen v. MillerSupreme Court of Arkansas · 1912
- Turman v. SanfordSupreme Court of Arkansas · 1901
- Smith v. ButlerSupreme Court of Arkansas · 1904
- Pullen v. WardSupreme Court of Arkansas · 1894
3Cited by5 opinions
- Rockford Trust Company v. PurtellSupreme Court of Arkansas · 1931
- Driver v. LacerSupreme Court of Arkansas · 1916
- Kinney v. North Memphis Savings BankSupreme Court of Arkansas · 1928
- Rolette County Bank v. HanlynNorth Dakota Supreme Court · 1921
- Neal v. BradleySupreme Court of Arkansas · 1964