Little Rock v. National Bank
Supreme Court of the United States
Error to tbe Circuit Court of tbe United States for the Eastern District of Arkansas. This was an action brought by the Merchants’ National Bank of Little Rock, Ark., against the city of Little Rock. The first count of the complaint is upon a bond in the words and figures following: — “No. 1.] State of Arkansas. [$500. “ Bond of the City of IAttle Rock.
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Error to tbe Circuit Court of tbe United States for the Eastern District of Arkansas. This was an action brought by the Merchants’ National Bank of Little Rock, Ark., against the city of Little Rock. The first count of the complaint is upon a bond in the words and figures following: — “No. 1.] State of Arkansas. [$500. “ Bond of the City of IAttle Rock. “ Know all men by these presents, that the city of Little Rock, in the said State of Arkansas, acknowledges itself to owe and be indebted unto the Merchants’ National Bank, or bearer, the sum of $500 in lawful money of the United States of…
1Opinion of the CourtJustice Hunt
We do not perceive that there is any difference between the right to recover for the amount issued to the bank in bonds and for that credited on the books of the eity. If the debt was legally created, the holder had the right to recover the amount of the bills held by him. If it derived a new validity from the surrender of an old debt of a disputed character, it is to be observed that all of the debt was equally given up.. New bonds were issued for a portion, but all of the debt was surrendered. It was the surrender of what was claimed to be a legal debt, and the creating a new obligation…
2Cases cited6 opinions
- Hitchcock v. GalvestonSupreme Court of the United States · 1878
- Mayor v. RaySupreme Court of the United States · 1874
- Mullarky v. Town of Cedar FallsSupreme Court of Iowa · 1865
- Washburn v. FranklinNew York Supreme Court · 1861
- Wright v. HughesIndiana Supreme Court · 1859
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Houston & Texas Central Railroad v. TexasSupreme Court of the United States · 1900
- Wilson v. Town of MonticelloIndiana Supreme Court · 1882
- Iron Mountain & Helena Rail Road v. StansellSupreme Court of Arkansas · 1884
- Licznerski v. United StatesCourt of Appeals for the Third Circuit · 1950
- Anderson v. Olivia State BankSupreme Court of Minnesota · 1932
8 more not listed; retrieve them via the Exa API.