Perry v. Cunningham
Supreme Court of Arkansas
APPEAL from Yell Circuit Court. The statute of limitation commenced to run from the date of acceptance, and five years having elapsed, the suit was barred. — 5 Arh., 536; Gantt’s Digest, See.-4125; 1 Stanton, Ky. Digest, p. 146, No. 74. Appellant was not individually liable — he accepted it in his representative • capacity, payable out of the rents of the estate. — 1 Parsons on Contracts, p. 128; 215., p. 498, note q; Story on Prom.
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APPEAL from Yell Circuit Court. The statute of limitation commenced to run from the date of acceptance, and five years having elapsed, the suit was barred. — 5 Arh., 536; Gantt’s Digest, See.-4125; 1 Stanton, Ky. Digest, p. 146, No. 74. Appellant was not individually liable — he accepted it in his representative • capacity, payable out of the rents of the estate. — 1 Parsons on Contracts, p. 128; 215., p. 498, note q; Story on Prom. Notes, p. 65, Sec. 63. The draft was accepted to be paid as early as the rents of the estate would permit, etc., and no proof was offered, nor was it charged that…
1Opinion of the Court
OPINION.
Eakin, J.
The acceptance by the administrator raised a personal obligation according to its terms. Such a conditional acceptance did not make the instrument paper, but it was nevertheless assignable under the statutes. It was, in effect, as if the acceptor by an original instrument had promised to pay the drawerCMthe sum mentioned out of certain rents when they should come into his hands. Such an instrument would have been assignable — vesting right of action in the assignee, even before the civil code, certainly after.—Owen v. Lavine, 14 Ark., 389.
And it created a personal obligation…
2Cited by8 opinions
- Richardson v. PalmerMissouri Court of Appeals · 1887
- Hayes v. ShirkIndiana Supreme Court · 1906
- Jones v. JohnsonSupreme Court of Oklahoma · 1918
- Rickel v. Chicago, Rock Island & Pacific Railway Co.Supreme Court of Iowa · 1900
- Hempstead County v. PhillipsSupreme Court of Arkansas · 1906
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