Spencer & Co. v. Bank of Hickory Ridge
Supreme Court of Arkansas
Appeal from 'Cross Circuit Court; W. J. Driver, Judge; STATEMENT BY THE COURT. Appellants sued to recover $718.07, the amount of a certain draft which had been 'drawn on, and paid by, them.
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Appeal from 'Cross Circuit Court; W. J. Driver, Judge; STATEMENT BY THE COURT. Appellants sued to recover $718.07, the amount of a certain draft which had been 'drawn on, and paid by, them. To this draft there were attached bills of lading for three carloads of corn,-which bills of lading proved to be forgeries, and appellants testified that the circumstances under which they paid the draft were as follows: That one F. F. Farrin called at the offices of appellants, Spencer & Co., in the city of Jonesboro, late in January or early in February, 1912, and stated that the purpose of his visit was…
1Opinion of the Court
Smith, J.,
(after stating the facts). The case of LaFayette v. Merchants’ Bank, 73 Ark. 561, is similar in many respects to the case at bar. There the facts were that one Whitlock had an agreement with the plaintiffs, LaFayette & Bro., by which LaFayette .& Bro. agreed to pay drafts drawn by Whitlock on them for the purchase price of cattle, provided that a bill of sale, signed by the vendor, conveying the cattle to LaFayette & Bro., should be endorsed on the back of the draft as security for the payment of the draft. To enable Whitlock to have these drafts, with bills of sale in proper form,…
2Cases cited5 opinions
- Merchants' National Bank v. National Bank of the CommonwealthMassachusetts Supreme Judicial Court · 1885
- Hortsman v. HenshawSupreme Court of the United States · 1851
- LaFayette v. Merchants' BankSupreme Court of Arkansas · 1905
- Northampton National Bank v. SmithMassachusetts Supreme Judicial Court · 1897
- Carpenter v. Northborough National BankMassachusetts Supreme Judicial Court · 1877