Calhoun v. Ainsworth
Supreme Court of Arkansas
Appeal from Miller Chancery Court; James D. Sha- ■ ver, Chancellor; 1. Appellant not having given the Texarkana Trust Company any authority to collect any part of the principal of these notes, and having no knowledge of its custom of requiring deposits to -meet payments, and he having purchased the note before any of these deposits were made, he is not bound thereby. 64 Ark. 119; 111 Ark. 263. After the purchase, the note was in the possession of appellant, ¡and not in the…
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Appeal from Miller Chancery Court; James D. Sha- ■ ver, Chancellor; 1. Appellant not having given the Texarkana Trust Company any authority to collect any part of the principal of these notes, and having no knowledge of its custom of requiring deposits to -meet payments, and he having purchased the note before any of these deposits were made, he is not bound thereby. 64 Ark. 119; 111 Ark. 263. After the purchase, the note was in the possession of appellant, ¡and not in the possession of the Trust Company. The latter did not have even 'apparent authority to (collect payments on the note. 141…
1Opinion of the Court
McCulloch, O. J.
The Texarkana Trust Company; (now 'defunct), a corporation engaged in the banking business in ¡the city of Texarkana, agreed to sell certain lolts of real estate in Texarkana to the defendants, J. S. Ainsworth and his wife, Jennie Ainsworth, executing a contract in writing covering the Sale, and said defendants ¡executed to the vendor a negotiable promissory note for the sum ¡of $625.00 for the purchase price of ¡said lots, with 8 per cent interest from date until paid. The note was due and payable on its face one year ¡after date, hut the contract of siale ¡contained a…
2Cases cited6 opinions
- Koen v. MillerSupreme Court of Arkansas · 1912
- Powers v. WoolfolkMissouri Court of Appeals · 1908
- Exchange National Bank v. LittleSupreme Court of Arkansas · 1914
- Martin v. O'BannonSupreme Court of Arkansas · 1879
- St. Peter's Lit. Ass'n v. WebbSupreme Court of Arkansas · 1876
1 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Coffin v. Planters Cotton Co.Supreme Court of Arkansas · 1916
- Gross v. TierneyCourt of Appeals for the Fourth Circuit · 1932
- Calhoun v. SharkeySupreme Court of Arkansas · 1915
- Markstein Bros. v. J. A. White & Co.Supreme Court of Arkansas · 1921
- Clark v. WheelerSupreme Court of New Hampshire · 1923
4 more not listed; retrieve them via the Exa API.