Benton v. Holliday
Supreme Court of Arkansas
APPEAL from Garland Circuit Court. Hon. J. M. Smith, Circuit Judge. 1. The Greens had a right to make the contract discharging the note and mortgage. They had no knowledge that either the note or mortgage had been assigned. In such case the assignee takes subject to all equities, before the assignment and up to the time the maker had notice of the assignment. Wade on Notice, secs. 431-3; 3 N. H., 359; 19 John., 341; 18 lb., 493; 16 lb., 226; 8 Me., 77; and especially 2 John.
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APPEAL from Garland Circuit Court. Hon. J. M. Smith, Circuit Judge. 1. The Greens had a right to make the contract discharging the note and mortgage. They had no knowledge that either the note or mortgage had been assigned. In such case the assignee takes subject to all equities, before the assignment and up to the time the maker had notice of the assignment. Wade on Notice, secs. 431-3; 3 N. H., 359; 19 John., 341; 18 lb., 493; 16 lb., 226; 8 Me., 77; and especially 2 John. Ch., 441-> 419; 9 S. f R., 137; 3 IT. Jj. Cas., 703; 5 Jur. N. S., 129; 36 Penn. St., 108; 2 Mass., 96; 10 Me., 244. 2.…
1Opinion of the CourtSmith, J.
In March, 1874, John T. and Peter E. Green made to the appellant, Benton, their two several promissory notes, one for $3,800 and the other for $2,600, due in one year. And to secure payment of the same they executed two mortgages on eighty acres of land in Garland county, embracing the Mountain Yalley Springs, in which mortgages the wives joined, relinquishing dower. In August, 1877, Benton made to Holliday bis note for $700, due six months after date, and as collateral security transferred to Holliday the note first above mentioned, with the mortgage made to secure it. The assignment…
2Cases cited1 opinion
- Masterson v. HowardSupreme Court of the United States · 1873
3Cited by6 opinions
- Wilson v. OvertureSupreme Court of Arkansas · 1923
- Euper v. StateSupreme Court of Arkansas · 1907
- Sproull v. MilesSupreme Court of Arkansas · 1907
- Koons v. MarkleSupreme Court of Arkansas · 1910
- Neimeyer v. ClaiborneSupreme Court of Arkansas · 1908
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