Stuart v. Elk Horn Bank & Trust Co.
Supreme Court of Arkansas
Appeal from Clark Chancery Court; James D. Shaver, Chancellor; 1. The Bulk Sale law is unconstitutional. Acts 1913, 326. It conflicts with article 2, section 2 and article 2, section 18, Declaration of Rights; 211 U. S. 295; 235 111. 40; 125 Am. St. 184,189; 236 111. 157. 2. Defendant, Stuart complied with the law, if constitutional. Am. Ann.
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Appeal from Clark Chancery Court; James D. Shaver, Chancellor; 1. The Bulk Sale law is unconstitutional. Acts 1913, 326. It conflicts with article 2, section 2 and article 2, section 18, Declaration of Rights; 211 U. S. 295; 235 111. 40; 125 Am. St. 184,189; 236 111. 157. 2. Defendant, Stuart complied with the law, if constitutional. Am. Ann. Cas. 1915, C, p. 4.15; 140 Gra. 10; 78 S. E. 609; 45 L. R. A. (N. S.) 492; 70 Ore. 182; 138 Pac. 847. Stuart knew nothing of the bank’s debt. It was not defrauded or in any way defeated in the collection of its debt. When he learned of the debt he…
1Opinion of the CourtSmith, J.
One J. M. Henderson owiied a small retail grocery business'in Arkadelphia and on November 17, 1914, made a bulk sale of his stock of goods and fixtures to appellant. The consideration was $200, of which $30 was cash, and the balance consisted of claims due creditors who had furnished goods amounting to $118.09, which appellant assumed, .and an item of $25 for rent, and a telephone bill of $2.50, which appellant also assumed.
Appellant testified that the stock of goods invoiced $204 and was worth 60 per cent, of that amount and that the fixtures were worth $40. But there was evidence that this…
2Cases cited3 opinions
- Lemieux v. Young, TrusteeSupreme Court of the United States · 1909
- Coach v. GageOregon Supreme Court · 1914
- International Silver Co. v. Hull & Co.Supreme Court of Georgia · 1913
3Cited by34 opinions
- Fischer v. Rio Tire Co.Texas Commission of Appeals · 1933
- Gardner v. Goodner Wholesale Grocery Co.Texas Supreme Court · 1923
- Texas Bank & Trust Co. v. TeichCourt of Appeals of Texas · 1926
- Settegast v. Second National BankTexas Supreme Court · 1935
- Evans v. HerbransonSupreme Court of Iowa · 1950
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