Fort Smith Building Ass'n v. Cohn
Supreme Court of Arkansas
Appeal from Sebastian Cii;cuit Court, Fort Smith District. Styles T. Rowe, Judge. STATEMENT BY THE COURT. In the 5th day of March, 1900, the Fort Smith Building Association No 2, Permanent, was declared insolvent by the Sebastian Chancery Court, and receivers were appointed to administer its assets under the orders of the court.
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Appeal from Sebastian Cii;cuit Court, Fort Smith District. Styles T. Rowe, Judge. STATEMENT BY THE COURT. In the 5th day of March, 1900, the Fort Smith Building Association No 2, Permanent, was declared insolvent by the Sebastian Chancery Court, and receivers were appointed to administer its assets under the orders of the court. On April 24, 1902, Mrs. E. Hunt filed an application in the cause, alleging that the said Association was indebted to her in the sum of $1,066.40, with interest thereon at eight per cent, per annum from December 1, 1897, until paid; that said indebtedness was…
1Opinion of the Court
Wood, J.,
(after stating the facts.) The court erred in rendering judgment for appellees as if they were creditors of the Association. The proof shows that the Association was insolvent at the time the notice of withdrawal was given, and continued so down to the time of the execution of the notes, which are the basis of appellees’ claims.
The proof tends to show that appellees suspected that the Association was in a critical financial situation. But, even if it be conceded that they did not know that the Association was insolvent, still, that would not affect the result here. For the…
2Cases cited3 opinions
- Hohenshell v. Home Savings & Loan Ass'nSupreme Court of Missouri · 1897
- Chapman v. YoungAppellate Court of Illinois · 1896
- Rabbitt v. WilcoxenSupreme Court of Iowa · 1897
3Cited by6 opinions
- Fitzgerald v. State Mutual Building & Loan Ass'nNew Jersey Court of Chancery · 1909
- Home Bldg. Savings Association v. ClaySupreme Court of Arkansas · 1934
- Wyman v. McKEEVER, REC'RCourt of Appeals of Maryland · 1965
- Independence Savings & Loan Ass'n v. SellarsSupreme Court of Kansas · 1939
- Miers v. Columbia Mut. Building & Loan Ass'nU.S. Circuit Court for the District of Southern New York · 1907
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