Wimberly v. Scoggin
Supreme Court of Arkansas
Appeal from Pulaski Chancery Court; John E. Martineau, Chancellor; 1. The deed to Morgan was only a mortgage to secure a debt for money borrowed. The loan was usurious and the notes void, even in the hands of an innocent purchaser. 47 Ark. 288; 36 Id. 248; 46 Id. 50; 53 Id. 454; 41 Id. 331. 2. Goodbar & Co. had no lien. 40 Ark. 146; 58 Id. 252. 1. The instrument was a deed and not a mortgage. Goodbar & Co.’s attachment created a lien on the land.
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Appeal from Pulaski Chancery Court; John E. Martineau, Chancellor; 1. The deed to Morgan was only a mortgage to secure a debt for money borrowed. The loan was usurious and the notes void, even in the hands of an innocent purchaser. 47 Ark. 288; 36 Id. 248; 46 Id. 50; 53 Id. 454; 41 Id. 331. 2. Goodbar & Co. had no lien. 40 Ark. 146; 58 Id. 252. 1. The instrument was a deed and not a mortgage. Goodbar & Co.’s attachment created a lien on the land. The finding of the chancellor was not in line with the law as laid down by our Supreme Court. The burden was on Wimberly and the proof must be…
1Opinion of the CourtHart, J.
The American Freehold Land Mortgage Company of London, Limited, instituted this action in the chancery court against T. C. Wimberly and Jennie Wimberly, his wife, to recover judgment for the balance alleged to be due them and to foreclose a mortgage on land given to secure the debt.
A. H. Scoggin, receiver of the Egleton Lumber Company, intervened in the action and set up that he sold Ezra J. Morgan some of the assets of the lumber company, and on May 21, 1913, received certain notes executed by Thomas C. Wimberly to E. J. Morgan as collateral security therefor. He alleged that Wimberly sold…
2Cases cited4 opinions
- German Bank v. DeShonSupreme Court of Arkansas · 1883
- Hays v. EmersonSupreme Court of Arkansas · 1905
- Rushton v. McIllveneSupreme Court of Arkansas · 1908
- Gates v. McPeaceSupreme Court of Arkansas · 1913
3Cited by18 opinions
- Jones v. StateSupreme Court of Arkansas · 1969
- Snell v. WhiteSupreme Court of Arkansas · 1918
- Clark-Mcwilliams Coal Co. v. WardSupreme Court of Arkansas · 1932
- Naill v. KirbySupreme Court of Arkansas · 1924
- Jefferson v. SouterSupreme Court of Arkansas · 1921
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