Shearer v. Farmers & Merchants Bank
Supreme Court of Arkansas
Appeal from Woodruff Circuit Court, Northern District ; J. M. Jackson, Judge; 1. If appellants signed the notes under a promise or .agreement on the part of the bank or its officers that it would not prosecute Keating for embezzlement ¡or other felony, ,such notes were without valid consideration, and void. The ¡court, therefore, erred in refusing to give instruction 2, requested by appellant. 9 Cyc. 505; Id.
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Appeal from Woodruff Circuit Court, Northern District ; J. M. Jackson, Judge; 1. If appellants signed the notes under a promise or .agreement on the part of the bank or its officers that it would not prosecute Keating for embezzlement ¡or other felony, ,such notes were without valid consideration, and void. The ¡court, therefore, erred in refusing to give instruction 2, requested by appellant. 9 Cyc. 505; Id. Ill; 67 Ark. 480; 46 Ark. 136; 35 Ark. 280 ; 80 Ark. 326; 98 Ark. 274-285; 1 Story on Contracts, § 569. 2. Appellee’¡s attorney in his closing argument was permitted to point…
1Opinion of the CourtHart, J.
Appellees recovered judgment against appellant on two promissory notes and from the judgment against him appellant prosecutes this appeal. Appellant admitted the execution of the notes, but' says that he signed them in consideration that the directors of the Farmers & Merchants Bank, of MeCrory, Arkansas, would not prosecute his son-in-law for embezzlement. His son-in-law had been cashier of the bank, and an examination of his books showed that he'was a defaulter, and appellant testified, in short, that he executed the notes sued on in consideration that the directors would not prosecute his…
2Cases cited1 opinion
- Goodrum v. Merchants & Planters BankSupreme Court of Arkansas · 1912
3Cited by3 opinions
- Postal Telegraph-Cable Co. v. WhiteSupreme Court of Arkansas · 1933
- Threadgill v. StateSupreme Court of Arkansas · 1944
- Farmers' Mutual Fire Insurance v. HodgesSupreme Court of Arkansas · 1920