Hankins v. McElroy

Donald L. Corbin, Justice.

Appellant, George Hankins, appeals a judgment of the Pulaski Circuit Court, declaring that appellee, Lawyers Surety Corporation, is not liable on a bond it issued in favor of its principal, Larry McElroy d/b/a Mac’s Auto Sales. We find error in the trial court’s judgment and reverse.

Appellant and McElroy are used car dealers licensed in accordance with the Arkansas Motor Vehicle Commission Act, Ark. Code Ann. §§ 23-112-101 et. seq. (Repl. 1992). Appellant engaged in several business transactions with McElroy which are the subject of this case. Appellee Lawyers Surety…