First National Bank v. Leonard

Robert H. Dudley, Justice.

Edna Leonard, the plaintiff below and the appellee in this Court, purchased a clothing store in Wynne from Joann Hess, the defendant and counter-claimant below and cross-appellee here. At the time of purchase, counter-claimant Hess owed money to the First National Bank of Wynne, the defendant below and the appellant here. As consideration for the purchase, plaintiff agreed to make a $5,000.00 down-payment to counter-claimant Hess and assume the approximate $ 15,000.00 debt which was owed to the bank. Plaintiff, in running the store, was plagued by a lack of operating…