Wallace v. Meeks
Supreme Court of Arkansas
Appeal from Dallas Chancery Court; James M. Barker, Chancellor; 1. Where different debts are due from the same party, he must at the time of making a payment declare on what account he pays it; otherwise the creditor may make the appropriation of the payment, and he may exercise this right at any time before settlement. 32 Ark. 645, 665; 2 Jones on Mortgages, (1 ed.), § § 906, 908; 38 Ark. 285, 296; 76 Ark. 534. The right of appropriation can only be exercised by the debtor»…
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Appeal from Dallas Chancery Court; James M. Barker, Chancellor; 1. Where different debts are due from the same party, he must at the time of making a payment declare on what account he pays it; otherwise the creditor may make the appropriation of the payment, and he may exercise this right at any time before settlement. 32 Ark. 645, 665; 2 Jones on Mortgages, (1 ed.), § § 906, 908; 38 Ark. 285, 296; 76 Ark. 534. The right of appropriation can only be exercised by the debtor» or creditor. No third party has such right. 2 Wharton on Contracts, § 926. See also 2 Am. & Eng. Ene. of E. (2 ed.),…
1Opinion of the CourtMcCulloch, C. J.
Appellant, W. M. Wallace, was the owner of 813 acres of timber lands in Dallas County, Arkansas, and on July 27, 1907, sold and conveyed the standing timber on said lands to the Deola Dumber Company, a domestic corporation. He executed to said grantee one deed conveying the timber on .334^ acres of the land for a cash consideration of $1,645 an¿ two notes of even date each for a like sum, due and payable five and three months respectively from date, making $4,935 the total consideration expressed in the deed. On the same day he executed to said grantee another deed conveying the timber on 160…
2Cases cited10 opinions
- Baum v. LynnMississippi Supreme Court · 1895
- Arnold v. ArnoldCalifornia Supreme Court · 1902
- J. H. Magill Lumber Co. v. Lane-White Lumber Co.Supreme Court of Arkansas · 1909
- Kelly v. CarterSupreme Court of Arkansas · 1891
- St. Louis & North Arkansas Railroad v. CrandellSupreme Court of Arkansas · 1905
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3Cited by5 opinions
- Sutton v. SuttonSupreme Court of Arkansas · 1919
- Tandy v. SmithSupreme Court of Arkansas · 1927
- Texas Company v. SnowSupreme Court of Arkansas · 1927
- Hampton v. HanelineSupreme Court of Arkansas · 1916
- Moncrief v. MillerSupreme Court of Arkansas · 1929