Conqueror Trust Co. v. Reves Drug Co.
Supreme Court of Arkansas
Appeal from Crawford Circuit Court; James Cochrcm, Judge; STATEMENT BY THE COURT. The .appellant instituted this suit ¡against -the appellee to recover upon three promissory notes executed by appellee to the .order of the Vernon Advertising & Manufacturing Company (¡hereinafter designated as the Vernon Company). Appellant .alleged that the notes were endorsed by the payee to the appellant, being purchased by .appellant in the usual course-of business, 'before maturity and…
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Appeal from Crawford Circuit Court; James Cochrcm, Judge; STATEMENT BY THE COURT. The .appellant instituted this suit ¡against -the appellee to recover upon three promissory notes executed by appellee to the .order of the Vernon Advertising & Manufacturing Company (¡hereinafter designated as the Vernon Company). Appellant .alleged that the notes were endorsed by the payee to the appellant, being purchased by .appellant in the usual course-of business, 'before maturity and for value ¡and without notice. The .appellee .admitted the execution of the notes, but denied that .appellant was the…
1Opinion of the Court
Wood, J.,
(-after stating the facts). 1. The court erred in not -directing a verdict in favor of the -appellant. The unoontroverted evidence -showed that the appellant was' an innocent purchaser of the notes sued on. The appellant established the fact by its -evidence that it paid a .valuable -consideration for t-he notes before their maturity and without any n-oti-ce of any fraud in their execution or -of any defenses that the makers thereof might have against the payee. This -shifted the burden to the appellee to show that the appellant was not an innocent purchaser. Pinson v. Cobb, 113 Ark.…
2Cases cited3 opinions
- Bank of Monette v. HaleSupreme Court of Arkansas · 1912
- Bothell v. FletcherSupreme Court of Arkansas · 1910
- Pinson v. CobbSupreme Court of Arkansas · 1914
3Cited by5 opinions
- Conqueror Trust Co. v. Bayless Drug Co.Supreme Court of Oklahoma · 1919
- Conqueror Trust Co. v. SimmonSupreme Court of Oklahoma · 1917
- Stovall v. Liberty Plan of America, Inc.Supreme Court of Oklahoma · 1966
- McCollum v. GraberSupreme Court of Arkansas · 1944
- McCollum v. GraberSupreme Court of Arkansas · 1944