First National Bank v. Glass
Supreme Court of Arkansas
Appeal from Craighead Chancery Court; Chas. D. Frierson, Chancellor; 1. The deed as limited by the contract is a legal mortgage. The two must be construed as one instrument. 117 Ark. 308; 1 Jones on Mortg. (1916 ed.), § 242; 103 Ark. 494 ; 41 Mich. 490; 63 Tex. 506; 117 Ark. 308; 63 Id. 51; 114 S. W. 763; 20 Mass. 484 ; 36 Ky.
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Appeal from Craighead Chancery Court; Chas. D. Frierson, Chancellor; 1. The deed as limited by the contract is a legal mortgage. The two must be construed as one instrument. 117 Ark. 308; 1 Jones on Mortg. (1916 ed.), § 242; 103 Ark. 494 ; 41 Mich. 490; 63 Tex. 506; 117 Ark. 308; 63 Id. 51; 114 S. W. 763; 20 Mass. 484 ; 36 Ky. (Dana) 473; 112 N. Y. 467; 39 So. 1023; 48 Ala. 99. 2. As a legal mortgage it is barred by limitation. 87 Ark. 228; 61 Zd.'ll8. 3. As an absolute grant, appellee’s contingent legal title to the timber has terminated. No time was specified and the law only implies a…
1Opinion of the CourtMcCulloch, C. J.
J. M. Glass, one of the appellees, owned 3,000 acres of timber land in Arkansas, and on April 9, 1904, conveyed the white oak timber by deed, absolute in its terms, to the H. D. Williams Cooperage Company, a corporation, the deed reciting a consideration of $10,000, receipt of which was acknowledged in the deed. No time was specified in the deed for removal cf the timber, but the chancellor found on hearing the cause, and it is now conceded in the briefs, that four years was not an unreasonable time within which to remove the timber. Simultaneously with the execution of the deed the parties…
2Cases cited3 opinions
- Dicken v. SimpsonSupreme Court of Arkansas · 1915
- Coleman v. FisherSupreme Court of Arkansas · 1899
- Mullins v. WilcoxSupreme Court of Arkansas · 1916
3Cited by4 opinions
- Bering Mfg. Co. v. W. T. Carter & Bro.Court of Appeals of Texas · 1923
- Bering Mfg. Co. v. W. T. Carter & Bro.Texas Commission of Appeals · 1925
- Oliphant v. OliphantSupreme Court of Arkansas · 1950
- Sommer v. NakdimenCourt of Appeals for the Eighth Circuit · 1938