Cocke v. Cross
Supreme Court of Arkansas
Appeal from Phillips Circuit Court. Grant Green, Jr., Judge. Cross, the appellee, brought an action of replevin against Cocke & Co., the appellants, to recover the value of two mules alleged to have been taken from him and converted by the appellants.
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Appeal from Phillips Circuit Court. Grant Green, Jr., Judge. Cross, the appellee, brought an action of replevin against Cocke & Co., the appellants, to recover the value of two mules alleged to have been taken from him and converted by the appellants. They answered that the mules were conveyed by Cross to one Nelson in trust to secure a note made by Cross for $570, payable to Wood-yard & Co., with power in the trustee to sell the mules on default of payment; that Woodyard & Co. had assigned and delivered the note to the appellants; that, default having been made in the payment of the note,…
1Opinion of the CourtManseieed, J.
The decree cancelling the notes of Woodyard & Co., for the payment of which Cross’ note was assigned to the appellants as collateral security, did not affect the power of Nelson to sell the mules in the manner required by the deed of trust. If he had made such sale, it would have been a matter of no concern to Cross whether the amount due on his note was payable to Woodyard & Co. or to the appellants. The proceeds of the sale would, in either event, have been received by Nelson, and his misapplication of the fund could not have deprived Cross of the right to have the mortgage satisfied. If a…
2Cases cited1 opinion
- Jones v. HornSupreme Court of Arkansas · 1888
3Cited by3 opinions
- Kuzemka v. GregorySupreme Court of Connecticut · 1929
- Atkinson v. BurtSupreme Court of Arkansas · 1898
- Duty v. JonesSupreme Court of Arkansas · 1916