Harrison v. First National Bank
Supreme Court of Arkansas
Appeal from Madison Chancery Court; T. H. Humphreys, Chancellor; STATEMENT BY THE COURT. Appellants borrowed $2,000 from the First National Bank of Huntsville, with which to purchase a stock of merchandise for their partnership of Harrison & Neal Bros., and executed, the following note therefor; Date “$2,000.00 Huntsville, Ark., Nov. 30, 1912. Nov. 27-13 $2,000.00 1,016.55 $ 983.45 “July 1, 1913, we promise to pay to the order of THE FIRST NATIONAL BANK Two thousand &…
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Appeal from Madison Chancery Court; T. H. Humphreys, Chancellor; STATEMENT BY THE COURT. Appellants borrowed $2,000 from the First National Bank of Huntsville, with which to purchase a stock of merchandise for their partnership of Harrison & Neal Bros., and executed, the following note therefor; Date “$2,000.00 Huntsville, Ark., Nov. 30, 1912. Nov. 27-13 $2,000.00 1,016.55 $ 983.45 “July 1, 1913, we promise to pay to the order of THE FIRST NATIONAL BANK Two thousand & no/100......................Dollars for value received, negotiable and payable at its office in Huntsville, Ark., without…
1Opinion of the Court
Kirby, J.,
(after stating the facts). The undisputed testimony shows that the appellants borrowed the money from the bank with which to purchase the stock of goods and executed the note in controversy therefor. That the Neals afterward sold their interest to Harrison, who agreed to pay the note as the consideration for the sale, and the bank was fully informed of these facts and ■agreed that the .Neals should stand security upon the note until it was paid. Neither is there any dispute that the bank afterward loaned Hanson the money with which to purchase from Harrison the stock of merchandise…
2Cases cited3 opinions
- Miller v. MontgomeryIllinois Supreme Court · 1863
- Atkinson v. CoxSupreme Court of Arkansas · 1891
- Codman v. ArmstrongSupreme Judicial Court of Maine · 1848
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- Gowan v. RobinsonSupreme Court of Arkansas · 1935
- Kelley Brothers Lumber Co. v. LemingSupreme Court of Arkansas · 1952
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