Holland v. Farmers & Merchants Bank

Melvin Mayfield, Judge.

This is an appeal from the granting of a motion for directed verdict. The appellant, Vernon Holland, was sued by the appellee, Farmers & Merchants Bank of Prairie Grove, Arkansas, for $32,599.76 alleged to be due as principal and interest on a promissory note. Holland answered, pleading the affirmative defense of accord and satisfaction.

At trial, the bank’s president testified that the note was secured by a security agreement on some cattle owned by Holland; that he had given Holland permission to sell some of the cattle and to take the money received and credit it on…