Mott v. American Trust Co.
Supreme Court of Arkansas
Appeal from Craighead Chancery Court, Western District; N.'F. Lamb, Special Chancellor; 1. The contract is clear, complete and unambiguous, and it was not competent to show by parol testimony an additional consideration. 99 Ark. '223. 2. There was no assumption of the mortgage debt by Mott. 27 Cyc. 1344; 3 Pomeroy 2404; 2 Devlin on Deeds, 2072. 3. An acceptance of a deed subject to a specified mortgage does not imply a promise by the grantee to pay the debt. 47 Ark. 197; 90…
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Appeal from Craighead Chancery Court, Western District; N.'F. Lamb, Special Chancellor; 1. The contract is clear, complete and unambiguous, and it was not competent to show by parol testimony an additional consideration. 99 Ark. '223. 2. There was no assumption of the mortgage debt by Mott. 27 Cyc. 1344; 3 Pomeroy 2404; 2 Devlin on Deeds, 2072. 3. An acceptance of a deed subject to a specified mortgage does not imply a promise by the grantee to pay the debt. 47 Ark. 197; 90 Id. 426; 15 L. R. A. (N.- S.) 1087. 4. The burden was on plaintiff to establish the assumption of the debt. 63 Am. St.…
1Opinion of the CourtMcCulloch, C. J.
E. P. Mathes owned a tract of land in Poinsett County, Arkansas, containing one hundred acres, and on April 4, 1914, mortgaged it to American Trust Company, a corporation engaged in the banking business in the city of Jonesboro, Arkansas. On the same day, but after the execution and recording of the mortgage to American Trust Company, Mathes sold and conveyed the land to W. E. Flannigan and F. Y. King, the deed containing a recital that it was executed “subject to first mortgage of this date to American Trust Company for $1,000, with interest at 10 per cent., due April 4, 1915.” In June,…
2Cases cited4 opinions
- J. H. Magill Lumber Co. v. Lane-White Lumber Co.Supreme Court of Arkansas · 1909
- Kramer v. GardnerSupreme Court of Minnesota · 1908
- Patton v. AdkinsSupreme Court of Arkansas · 1883
- Williams v. Chicago, Rock Island & Pacific Railway Co.Supreme Court of Arkansas · 1913
3Cited by6 opinions
- Warren v. PulleySupreme Court of Oklahoma · 1943
- Karl H. Schewe and Louise H. Schewe v. Elmer C. Bentsen and Tip-O-Tex Realty Co.Court of Appeals for the Fifth Circuit · 1970
- Harris v. TruebloodSupreme Court of Arkansas · 1916
- Central Life Ins. Co. of Illinois v. ThompsonSupreme Court of Arkansas · 1930
- Young v. Blocker, TrusteeSupreme Court of Arkansas · 1941
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