Hughes v. Garrett
Supreme Court of Arkansas
Appeal from White Circuit Court; J. M. Jackson, Judge; STATEMENT OF FACTS. On November 16, 1920, appellee instituted this action against appellants to recover the sum of $150 alleged to be due and payable to appellee on the joint promissory note of appellants. On September 8, 1919, S. T. Hughes executed his note, with M. T. R/undle as security, for the sum of $150 due and payable to the First National Bank of Judsonia, six months after date.
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Appeal from White Circuit Court; J. M. Jackson, Judge; STATEMENT OF FACTS. On November 16, 1920, appellee instituted this action against appellants to recover the sum of $150 alleged to be due and payable to appellee on the joint promissory note of appellants. On September 8, 1919, S. T. Hughes executed his note, with M. T. R/undle as security, for the sum of $150 due and payable to the First National Bank of Judsonia, six months after date. The bank became insolvent, and a receiver was appointed to take charge of its assets and wind up its affairs. S. T. Hughes had on general deposit in the…
1Opinion of the CourtHart, J.
(after stating the facts). The judgment of the circuit court was wrong. At the time the bank failed it had made no appropriation whatever of the amount of the general deposit of Hughes towards the payment of any of Ms notes dne the bank. When the receiver was appointed, Hughes directed-him to apply the amount due him on general deposit by the bank to the payment of the note sued on first, and the balance to the payment of other indebtedness. The receiver had no right to refuse to make the appropriation as directed.
This court has held that, the relation between a bank and a general depositor…
2Cases cited4 opinions
- Funk v. YoungSupreme Court of Arkansas · 1919
- Steelman v. AtchleySupreme Court of Arkansas · 1911
- Rush v. Citizens National BankSupreme Court of Arkansas · 1914
- Burton v. Blytheville Realty Co.Supreme Court of Arkansas · 1913
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- Sloss v. TaylorSupreme Court of Arkansas · 1931
- Taylor v. CoxSupreme Court of Arkansas · 1931