Merchants & Farmers Bank v. Harris Lumber Co.
Supreme Court of Arkansas
Appeal from Union Circuit Court; George W. Hays, Judge; The court erred in excluding the mortgage as evidence. It is clear from the evidence that the directors and stockholders of appellee by their conduct and acquiescence ratified the act of Nelson in executing the note and mortgage, and are estopped from denying its validity.
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Appeal from Union Circuit Court; George W. Hays, Judge; The court erred in excluding the mortgage as evidence. It is clear from the evidence that the directors and stockholders of appellee by their conduct and acquiescence ratified the act of Nelson in executing the note and mortgage, and are estopped from denying its validity. Morawetz on Private Corp. (2 ed.) § § 618, 627, 633; 1 Beach on Private Corp. § §194, 195; 10 Cyc. 1074 (E), 1076-2-a, 1'077-b, 1077-c; Morawetz on Priv. Corp. (2 ed.) § 630; 1 Beach § 197; 89 Ark. 446.
1Opinion of the CourtFrauenthal, J.
This is an action of replevin for the recovery of certain personal property to which the appellant claimed the right of possession by virtue of an alleged mortgage executed to it by appellee, in which default had been made. The appellee is a domestic corporation, and it resisted recovery upon the ground that the alleged- mortgage was not executed by it or by any agent or officer of the company having authority to execute it. It also alleged a full settlement of the note, which was secured by said mortgage, and the satisfaction of the mortgage. Upon the trial of the ease, the court refused to…
2Cases cited4 opinions
- Simon v. Sevier Ass'nSupreme Court of Arkansas · 1890
- Estes v. German National BankSupreme Court of Arkansas · 1896
- Stiewel v. Webb Press Co.Supreme Court of Arkansas · 1906
- Wolf v. Erwin & Wood Co.Supreme Court of Arkansas · 1903
3Cited by8 opinions
- Redstone v. Redstone Lumber Supply Co.Supreme Court of Florida · 1931
- West Side Irr. Co. v. United StatesCourt of Appeals for the Ninth Circuit · 1917
- Omaha Hardwood Lumber Co. v. J. H. Phipps Lumber Co.Court of Appeals for the Eighth Circuit · 1943
- Hospital & Benevolent Ass'n v. Arkansas Baptist State ConventionSupreme Court of Arkansas · 1928
- Foster v. BlackwellLouisiana Court of Appeal · 1999
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