Steelman v. Atchley
Supreme Court of Arkansas
Appeal from Dallas Chancery Court; John R. Thornton, Special Chancellor; STATEMENT BY THE COURT. Nathan Steelman alleged by way of intervention that he executed his note on the 5th day of April, 1908, to the Dallas County Bank for $200, and at the same time a mortgage to secure the payment thereof; that on the 15th day of July, 1909, he paid a sum on said note reducing the amount to $204.55, f°r which he executed a renewal note on July 15, 1909, and directed the paid note to…
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Appeal from Dallas Chancery Court; John R. Thornton, Special Chancellor; STATEMENT BY THE COURT. Nathan Steelman alleged by way of intervention that he executed his note on the 5th day of April, 1908, to the Dallas County Bank for $200, and at the same time a mortgage to secure the payment thereof; that on the 15th day of July, 1909, he paid a sum on said note reducing the amount to $204.55, f°r which he executed a renewal note on July 15, 1909, and directed the paid note to be mailed to him, which was not done, and that the receiver of the bank is now holding both his notes; that the…
1Opinion of the Court
Kirby, J.,
(after stating the facts). Did the court err in denying appellant the right to set off the amount of his deposit in said bank at the time of its failure against his said note held by the receiver of the insolvent bank? The bank became the debtor of appellant upon his general deposit of funds therein to the amount thereof, and bound by an implied contract to repay same upon his demand or order. Carroll County Bank v. Rhodes, 69 Ark. 47; Himstedt v. German Bank, 46 Ark. 537; Warren v. Nix, 97 Ark. 374.
He was the bank’s debtor upon the note executed to it for the sum thereof, and the…
2Cases cited9 opinions
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Nashville Trust Co. v. BankTennessee Supreme Court · 1892
- Warren v. NixSupreme Court of Arkansas · 1911
- St. Paul & M. Trust Co. v. LeckSupreme Court of Minnesota · 1894
- Green v. ConradSupreme Court of Missouri · 1893
4 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Funk v. YoungSupreme Court of Arkansas · 1919
- Covey v. CannonSupreme Court of Arkansas · 1912
- Darragh Co. v. GoodmanSupreme Court of Arkansas · 1916
- Williams v. JohnsonMontana Supreme Court · 1914
- City Investment Co. v. PringleCalifornia Court of Appeal · 1925
15 more not listed; retrieve them via the Exa API.