Exchange National Bank v. Little
Supreme Court of Arkansas
Appeal from Lonoke Chancery Court; John E. Martinecm, Chancellor; STATEMENT BY THE COTJBT. Appellant brought three separate suits to foreclose chattel mortgages which had been executed by appellees in favor of Eagle & Co. to secure certain notes. These notes had been transferred by endorsement by Eagle.& Co. before maturity to appellant as collateral security for loans obtained by Eagle & Co. from appellant.
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Appeal from Lonoke Chancery Court; John E. Martinecm, Chancellor; STATEMENT BY THE COTJBT. Appellant brought three separate suits to foreclose chattel mortgages which had been executed by appellees in favor of Eagle & Co. to secure certain notes. These notes had been transferred by endorsement by Eagle.& Co. before maturity to appellant as collateral security for loans obtained by Eagle & Co. from appellant. Appellees set up-as a defense that they had paid the notes to Eagle & Co. and that appellant had constituted Eagle & Co. its agent for the collection of said notes. In the case against J.…
1Opinion of the Court
Hart, J.,
(after stating the facts). In regard to the case against J. F. Little, J.'T. Lipscomb et al., the appellees alleged that the note was altered after it was delivered to Eagle & Co. and that therefore appellant is not an innocent purchaser for value. Counsel for appellant have not abstracted the testimony on this point, and state that the chancellor dismissed the complaint in this case for want of equity on other grounds. It is the practice of this court to try chancery cases de novo on the record made in the court below. It is true the original note in question is not here for our…
2Cases cited3 opinions
- Moore v. United StatesSupreme Court of the United States · 1905
- Fordyce v. KosminskiSupreme Court of Arkansas · 1886
- Exchange National Bank v. SteeleSupreme Court of Arkansas · 1913
3Cited by6 opinions
- Calhoun v. AinsworthSupreme Court of Arkansas · 1915
- American Agricultural Chemical Co. v. BondSupreme Court of Arkansas · 1928
- Markstein Bros. v. J. A. White & Co.Supreme Court of Arkansas · 1921
- Brown-Hinton Wholesale Grocery Co. v. Ware & SonSupreme Court of Arkansas · 1928
- People's Savings Bank v. ManesSupreme Court of Arkansas · 1918
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