Dawson v. Real Estate Bank
Supreme Court of Arkansas
This was an action of debt, determined in the Pulaski Circuit Court, at March term, 1841, before the Hon. John J. Ceendenin, one of the circuit judges. The bank sued Dawson, Cummins and Tucker on a note executed by Dawson as principal, and the others as securities, for $>8000. The defendants filed three pleas; the first, payment, to which issue wa's joined; to the other two, demurrers were sustained, whereupon they took leave to amend, and filed five lew pleas.
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This was an action of debt, determined in the Pulaski Circuit Court, at March term, 1841, before the Hon. John J. Ceendenin, one of the circuit judges. The bank sued Dawson, Cummins and Tucker on a note executed by Dawson as principal, and the others as securities, for $>8000. The defendants filed three pleas; the first, payment, to which issue wa's joined; to the other two, demurrers were sustained, whereupon they took leave to amend, and filed five lew pleas. The first alleged, in substance, that Dawson was a stockholder to the amount of two hundred and fifty-four shares, of one hundred…
1Opinion of the Court
By the Court,
Ringo C. J.
The demurrers to the first, second and fifth amended pleas, in the view which we have taken of the subject, present but two questions: First, can the bank maintain an action at law on the notes or obligations of a stockholder, given on account of money obtained by him from the bank? Second, could the bank legally take from a stock holder such note or obligation as that sued on, as a security for money obtained therefrom by him on account of his credit therein as guarantied by the 17th section of her charter?
In controverting the first proposition, it is urged on the…
2Cases cited3 opinions
- Commercial Bank v. HughesNew York Supreme Court · 1837
- McFarland v. Bank of the StateSupreme Court of Arkansas · 1842
- Trammell v. HarrellSupreme Court of Arkansas · 1842
3Cited by8 opinions
- Washington Shoe Manufacturing Co. v. DukeWashington Supreme Court · 1923
- Melander v. Western National BankCalifornia Court of Appeal · 1913
- Thomas v. Exchange BankSupreme Court of Iowa · 1896
- Lamb v. MorrisIndiana Supreme Court · 1889
- Wilson v. DawsonIndiana Supreme Court · 1876
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