Peoples Bank and Trust Co. v. Wallace

721 S.W.2d 659 (1986)

290 Ark. 589

PEOPLES BANK AND TRUST COMPANY OF VAN BUREN, Appellant,

v.

Claude WALLACE, Appellee.

No. 86-147.

Supreme Court of Arkansas.

December 22, 1986.

Gant & Gant by Paul Gant, Van Buren, Friday, Eldredge & Clark by George Pike, Jr. and William A. Waddell, Jr., Little Rock, for appellant.

Joel W. Price, Fort Smith, for appellee.

DUDLEY, Justice.

Appellee Claude Wallace agreed to purchase 20,000 shares of stock in Arkansas Reference Laboratories, Inc. for $50,000.00. In performance of his agreement appellee drew a $50,000.00 check on his account with appellant, Peoples Bank and…