Bank of Wynne & Trust Co. v. Stafford
Supreme Court of Arkansas
Appeal from Cross Circuit Court; W. J Driver, Judge; 1. The plea of payment was not sustained. None of the officers of the bank had the power to loan the funds of the bank and agree to accept anything except money in payment. Kirbyi’s Digest, § 839; 3 R. C. L., p. 420, § 47. Such transactions are expressly prohibited by the Banking Act.
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Appeal from Cross Circuit Court; W. J Driver, Judge; 1. The plea of payment was not sustained. None of the officers of the bank had the power to loan the funds of the bank and agree to accept anything except money in payment. Kirbyi’s Digest, § 839; 3 R. C. L., p. 420, § 47. Such transactions are expressly prohibited by the Banking Act. Act 113, Acts 1913, § 29, p. 479, and § § 75-6; 3 R. C. L. 448-9; Taylor on Private Corporations, 206-7. 2. A usage to be good must be general and of long standing. 62 Ark. 33. 3. The court should have passed on the attachment. Kirby’s Digest, § 366; 38 Ark.…
1Opinion of the Court
Hart, J.,
(after stating the faets). Under the evidence as presented by the record the court should have directed the jury to find for the plaintiffs on the question of the payment of the notes. According to the testimony of the defendants themselves there was no delivery of the brick in payment of the notes. The brick remained on the brick yard in the kiln in which they were burnt. There was no symbolical delivery or anything whatever to indicate that there had been a change of control or possession taken of them by the plaintiffs. So it may be said that under the undisputed evidence that…
2Cases cited5 opinions
- Von Berg v. GoodmanSupreme Court of Arkansas · 1908
- Lee Wilson & Co. v. Crittenden County Bank & Trust Co.Supreme Court of Arkansas · 1911
- Chalmers & Son v. BowenSupreme Court of Arkansas · 1914
- McDermott v. Kimball Lumber Co.Supreme Court of Arkansas · 1912
- Jones v. BurksSupreme Court of Arkansas · 1913
3Cited by6 opinions
- Ford v. WilsonSupreme Court of Arkansas · 1926
- Ward v. Nu-Wa Laundry Cleaners, Inc.Supreme Court of Arkansas · 1943
- Securities Investment Co. of St. Louis v. WilliamsDistrict Court, E.D. Arkansas · 1960
- Stair v. JonesSupreme Court of Arkansas · 1954
- Marvin v. BrooksSupreme Court of Arkansas · 1955
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