Sebastian County Bank v. Gann
Supreme Court of Arkansas
Appeal from Sebastian Chancery Court, Greenwood District; William A. Falconer, Chancellor, statement by the court. Appellants brought these suits, which were after-wards consolidated, against appellees, upon two promissory notes, for $1,590 each, given in payment for stock of the .Sebastian County Bank, of the face value of $1,000. Defendants answered, admitting the execution of the notes and denied liability thereon, alleging that they were procured ¡by false .and…
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Appeal from Sebastian Chancery Court, Greenwood District; William A. Falconer, Chancellor, statement by the court. Appellants brought these suits, which were after-wards consolidated, against appellees, upon two promissory notes, for $1,590 each, given in payment for stock of the .Sebastian County Bank, of the face value of $1,000. Defendants answered, admitting the execution of the notes and denied liability thereon, alleging that they were procured ¡by false .and fraudulent representations of B. O. Herbert, cashier of the bank, that the stock was worth $1.59 on the dollar, when as a matter…
1Opinion of the Court
Kirby, J.,
(after stating the facts). (1) In Evatt v. Hudson, 97 Ark. 268, the court said, “Representations, to be fraudulent in law, must be material to the contract or transaction, which is to be avoided and ‘must be made by one who either knows them to be false, or else not knowing asserts them to be true and made with the intent to have the other party act upon them to. his injury, and such must he their effect’. ” Louisiana Molasses Co. Ltd. v. Fort Smith Wholesale Gro. Co., 73 Ark. 542; Jarratt v. Langston, 99 Ark. 442.
In First Nat’l. Bank of Newark v. People’s National Bank of…
2Cases cited4 opinions
- Stewart v. SimonSupreme Court of Arkansas · 1914
- Haglin v. FriedmanSupreme Court of Arkansas · 1915
- Louisiana Molasses Co. v. Fort Smith Wholesale Grocery Co.Supreme Court of Arkansas · 1905
- First National Bank v. People's National BankSupreme Court of Arkansas · 1910
3Cited by4 opinions
- City National Bank of Fort Smith, Arkansas v. VanderboomDistrict Court, W.D. Arkansas · 1968
- Lawler v. First National Bank of NevadaNevada Supreme Court · 1978
- Stroud v. HendersonSupreme Court of Arkansas · 1926
- William M. Hogan v. Bank of Little RockCourt of Appeals of Arkansas · 2021