Southern Cotton Oil Co. v. Napoleon Hill Cotton Co.
Supreme Court of Arkansas
Appeal from Independence Chancery Court; George T. Humphries, Chancellor; STATEMENT BY TH.E COURT. Appellant brought suit for subrogation to the lien of certain mortgagees whose mortgage debts were paid off by the money loaned by it for the purpose under the agreement that it would be given a first mortgage lien upon the property.
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Appeal from Independence Chancery Court; George T. Humphries, Chancellor; STATEMENT BY TH.E COURT. Appellant brought suit for subrogation to the lien of certain mortgagees whose mortgage debts were paid off by the money loaned by it for the purpose under the agreement that it would be given a first mortgage lien upon the property. J. U. Martin testified that on December 31, 1908, he gave a mortgage upon the lands and the gin situate thereon to Hugh Wright for sixteen hundred dollars, and on April 6, 1909, another on the same property to Gr. E. Yeatman for eight hundred dollars. On the 23d of…
1Opinion of the Court
Kirby, J.,
(after stating the facts). It is not contended that there was any express agreement between Martin and appellant that it should be subrogated to the rights of the prior mortgagees upon the payment of their debts out of the money which it loaned for that purpose, but, it is insisted that since it made the loan with the expressed understanding and agreement that its security upon the property therefor should constitute a first lien, the other mortgage debts having been paid off with its money, and that it is entitled to subrogation to the rights of said mortgagees as against the…
2Cases cited6 opinions
- Capen v. GarrisonSupreme Court of Missouri · 1906
- Sidener v. PaveyIndiana Supreme Court · 1881
- Rodman v. SandersSupreme Court of Arkansas · 1884
- Cumberland Building & Loan Ass'n v. SparksCourt of Appeals for the Eighth Circuit · 1901
- Cohn v. HoffmanSupreme Court of Arkansas · 1887
1 more not listed; retrieve them via the Exa API.
3Cited by38 opinions
- G.E. Capital Mortgage Services, Inc. v. LevensonCourt of Appeals of Maryland · 1995
- Fed. Land Bk. of Columbia v. GodwinSupreme Court of Florida · 1931
- Home Owners' Loan Corp. v. Sears, Roebuck & Co.Supreme Court of Connecticut · 1937
- Texas Co. v. MillerCourt of Appeals for the Fifth Circuit · 1947
- Welch Foods, Inc. v. Chicago Title InsuranceSupreme Court of Arkansas · 2000
33 more not listed; retrieve them via the Exa API.