Lake v. Little Rock Trust Co.
Supreme Court of Arkansas
Appeal from Faulkner Circuit Court; George M. Chaprine, Judge; Smith’s indorsement being without consideration as to time, it was error to give instruction No. 1; and it was error to exclude evidence as to the intention°of the parties. 40 Ark. 454; 54 Ark. 97. As an indorser he was entitled to notice of nonpayment. 57 Ark. 437. It was the duty of appellee to protect the collateral, and not to hold it until greatly depreciated in value. 4 L. R. A. 586; lb. 194. The…
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Appeal from Faulkner Circuit Court; George M. Chaprine, Judge; Smith’s indorsement being without consideration as to time, it was error to give instruction No. 1; and it was error to exclude evidence as to the intention°of the parties. 40 Ark. 454; 54 Ark. 97. As an indorser he was entitled to notice of nonpayment. 57 Ark. 437. It was the duty of appellee to protect the collateral, and not to hold it until greatly depreciated in value. 4 L. R. A. 586; lb. 194. The instructions declare the law as laid down in 24 Ark. 511, and 40 Ark. 545. There was evidence to support the verdict. The pledgee…
1Opinion of the CourtRiddick, J.
This is an action by the Little Rock Trust Company against E. H. Lake and E. H. Smith for the balance of $1,134.18 due on a promissory note. This note for the sum of $5,000 was executed on the 6th day of September, 1902, and was made payable to the Bank of Little Rock, or order, on the first day of October following. The signature to the note is as follows: “El Dorado Compress Co., by E. H. Lake, Pres’t, E. H. Smith, Sec’y.” The names of E. H. Lake and E. H. Smith were also written by them on the back of the note. When the note was delivered to the cashier of the bank, he at once transferred…
2Cases cited2 opinions
- Culver v. WilkinsonSupreme Court of the United States · 1892
- Killian v. AshleySupreme Court of Arkansas · 1867
3Cited by10 opinions
- Kissire v. Plunkett-Jarrell Grocer Co.Supreme Court of Arkansas · 1912
- Petty v. GackingSupreme Court of Arkansas · 1911
- Porter v. HuieSupreme Court of Arkansas · 1910
- Montgomery Bank & Trust Co. v. KellySupreme Court of Alabama · 1919
- Bowes v. National City BankNew York Supreme Court · 1938
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