Felner v. Wilson
Supreme Court of Arkansas
APPEAL from Washington Circuit Court. James M. Pittman, Judge. On January n, 1889, the firm of J. H. Williams & Co.,„ druggists, executed to Joel Wilson and B. F. Williams a mortgage on all their stock of merchandise and accounts. to secure the latter against liability, as sureties for the former, upon two notes aggregating $1500. The mortgage, provided: “Now if said debts, notes and demands are fully paid off, discharged and satisfied within ninety days from the date…
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APPEAL from Washington Circuit Court. James M. Pittman, Judge. On January n, 1889, the firm of J. H. Williams & Co.,„ druggists, executed to Joel Wilson and B. F. Williams a mortgage on all their stock of merchandise and accounts. to secure the latter against liability, as sureties for the former, upon two notes aggregating $1500. The mortgage, provided: “Now if said debts, notes and demands are fully paid off, discharged and satisfied within ninety days from the date hereof, then this conveyance shall be void; otherwise to remain in full force and virtue and effect. * * * And it is…
1Opinion of the CourtCockrill, C. J.
The fair construction . of the mortgage in this case is that the mortgagors held possession of and sold the mortgaged chattels as agents of the mortgagees. It is settled that such a provision does not avoid a mortgage. Gauss v. Doyle, 46 Ark., 122; Gauss v. Orr, ib., 129; Fink v. Ehrman, 44 Ark., 310.
The question whether the mortgagees’ possession was bona fide or fraudulent, that is, whether they held for themselves or as agents of the mortgagees, was determined by the chancellor in favor of the mortgagees upon testimony against which there is not a preponderance of evidence, and we decline…
2Cited by6 opinions
- Coffman v. Citizens' Loan & Investment Co.Supreme Court of Arkansas · 1927
- Noyes v. RossMontana Supreme Court · 1899
- F. Meyer Boot & Shoe Co. v. C. Shenkberg Co.South Dakota Supreme Court · 1899
- Red River Valley National Bank v. BarnesNorth Dakota Supreme Court · 1899
- In re BurrowsDistrict Court, D. Indiana · 1877
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