First National Bank of Fort Smith v. Godwin

J. L. Godwin was indebted to the • Citizens Bank & Trust Company at Harrison, Arkansas, in the sum of $1,800, paid $1,500, and on May 6, 1931, executed his note for $300, the balance owing, said note to mature November 1, 1931, with interest at 8 per cent, until paid.

Thereafter and before maturity, the said note, together with a large amount of other collateral, was delivered to the First National Bank, Fort Smith, Arkansas, as security for money borrowed by the Citizens Bank & Trust Company from the said First National Bank.

In answer to a suit filed by the plaintiff, appellant here, First…