Catherina v. Porter
Supreme Court of Arkansas
Appeal from Pulaski Chancery Court; John E. Martineau, Chancellor; 1. The price paid was shockingly inadequate. The evidence shows that the lots are worth twice the amount paid. 2. The contract was not of sale but an option to purchase. The power to sell real estate does not include the power to option. 104 Ark. 459; Ann. Cases, 1914 C. 363, and cases cited in note to page 366. 3. The deed to Porter, though absolute in form, was only a mortgage.
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Appeal from Pulaski Chancery Court; John E. Martineau, Chancellor; 1. The price paid was shockingly inadequate. The evidence shows that the lots are worth twice the amount paid. 2. The contract was not of sale but an option to purchase. The power to sell real estate does not include the power to option. 104 Ark. 459; Ann. Cases, 1914 C. 363, and cases cited in note to page 366. 3. The deed to Porter, though absolute in form, was only a mortgage. The debts were not satisfied. 88 Ark. 299, 301. 4. Their contract of August 26, 1913, did not constitute an agency coupled with an interest and was…
1Opinion of the Court
HART, J.,
(after stating the facts). Counsel for the plaintiffs rely on the case of Swift v. Erwin, 104 Ark. 459, where it was held that a power to sell real estate does not include the power to give an option to purchase it. They contend that the agreement between the Citizens Company and Booher is only a naked power to sell the property; and that it had no authority to give the option to Lincoln. Thus it will be seen the decision of this case turns upon the construction to be given to the contract entered into between Booher and the Citizens Company on the 26th of August, 1913. The rule…
2Cases cited4 opinions
- Shaeffer v. BlairSupreme Court of the United States · 1893
- Swift v. ErwinSupreme Court of Arkansas · 1912
- Bonner v. Cross County Rice Co.Supreme Court of Arkansas · 1914
- Harr v. FordyceSupreme Court of Arkansas · 1908
3Cited by2 opinions
- Union & Mercantile Trust Co. v. HudsonSupreme Court of Arkansas · 1921
- Arkansas Power & Light Co. v. DeckerSupreme Court of Arkansas · 1930