Heldman Clothing Co. v. Oates
Supreme Court of Arkansas
Appeal from Pope Chancery Court; Jordan Sellers, Chancellor; 1. The contract was a sale, not a mortgage, and is void under the Bulk Sales Act No. 88, 1913. The sale was complete and consummated before the contract was reduced to writing.
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Appeal from Pope Chancery Court; Jordan Sellers, Chancellor; 1. The contract was a sale, not a mortgage, and is void under the Bulk Sales Act No. 88, 1913. The sale was complete and consummated before the contract was reduced to writing. It has all the elements of a sale; it passes title and possession and is unconditional, and Boss is to act only as agent of Oates. 222 Mass. 587; 127 G-a. 454. 2. If a mortgage it is void as to appellant as in fraud of creditors. 23 Ark. 262; 7 Ark. 269. 3. Oates should be held as receiver under the act. Acts 1913, No. 88; 123 Ark. 285; 127 Id. 296. 1. In the…
1Opinion of the CourtSmith, J.
J. B. Boss was engaged in the mercantile business at Bussellville, and he incurred obligations amounting to something over six thousand dollars. He realized his inability to pay this indebtedness and he had a friend to interview his creditors and submit to them a proposition to take fifty cents on the dollar in satisfaction of their demands. All of the creditors assented to this proposition except the Heldman Clothing Company, of Cincinnati, Ohio, which company had an account amounting to $585. To raise the money required to make the settlement proposed Eoss entered into an agreement with E.…
2Cases cited10 opinions
- Stuart v. Elk Horn Bank & Trust Co.Supreme Court of Arkansas · 1916
- Hays v. EmersonSupreme Court of Arkansas · 1905
- American Mortgage Co. v. WilliamsSupreme Court of Arkansas · 1912
- Appolos v. BradyCourt of Appeals for the Eighth Circuit · 1892
- Richmond v. Mississippi MillsSupreme Court of Arkansas · 1889
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3Cited by4 opinions
- McKelvey v. John Schaap & Sons Drug Co.Supreme Court of Arkansas · 1920
- Griffin v. Batterall Shoe Co.Supreme Court of Arkansas · 1918
- Second Nat. Bank of Houston v. SettegastCourt of Appeals of Texas · 1932
- Second Nat. Bank of Houston v. SettegastCourt of Appeals of Texas · 1932