American Soda Fountain Co. v. Futrall
Supreme Court of Arkansas
Appeal from Washington Circuit Court in Chancery. John N. Tireman, Judge. statement by the court. Futrall loaned Nix $300, and Nix gave him his notes, and secured them by a chattel mortgage on a soda fountain and other personal property. The chattel mortgage was filed, and Futrall went to Europe, and during his absence Nix traded the soda fountain to appellant in part payment of a new one.
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Appeal from Washington Circuit Court in Chancery. John N. Tireman, Judge. statement by the court. Futrall loaned Nix $300, and Nix gave him his notes, and secured them by a chattel mortgage on a soda fountain and other personal property. The chattel mortgage was filed, and Futrall went to Europe, and during his absence Nix traded the soda fountain to appellant in part payment of a new one. Appellant had actual, as well as constructive, notice of the mortgage on the fountain, and in the face of it took the fountain at a valuation of $300, and shipped it to its factory in Boston, Mass., and…
1Opinion of the Court
Hire, C. J.,
(after stating the. facts.) Three errors are alleged to have been committed, viz: (1) overruling the demurrer to defendant’s answer; (2) transferring the case from law to equity; and (3) finding the value of the old fountain at $200.
1. The old fountain was converted to appellant’s use in the face of the mortgage resting upon it, and its value to the extent of $300, the agreed price thereof, went into the new fountain, the subject of this suit. These facts constituted a trust ex maleficio, and impressed the property with an equitable lien to the extent of the value of the old…
2Cases cited4 opinions
- Daniel v. GarnerSupreme Court of Arkansas · 1903
- Humphreys v. ButlerSupreme Court of Arkansas · 1888
- Ames Iron Works v. ReaSupreme Court of Arkansas · 1892
- Johnson v. St. Louis Butchers' Supply Co.Supreme Court of Arkansas · 1895
3Cited by8 opinions
- Ford Motor Credit Co. v. HerringSupreme Court of Arkansas · 1979
- Hamburg Bank v. GeorgeSupreme Court of Arkansas · 1909
- Midland Savings & Loan Co. v. SuttonSupreme Court of Oklahoma · 1916
- Hardin v. MarshallSupreme Court of Arkansas · 1928
- Auston v. LoydDistrict Court, W.D. Arkansas · 1982
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