Morgan Co. v. Elmes
Supreme Court of Arkansas
Appeal from Prairie Chancery Court, Northern District, John M. Elliott, Chancellor; STATEMENT BY THE COURT. Appellant Morgan Company brought suit on June 30, 1914, against .appellees upon a note of the Buena Vista Veneer Co., dated January 5, 1914, and caused an attachment to be issued against certain property transferred by 'said company to Charles W. Elmes, which transfers were alleged to be fraudulent and prayed to be set aside as made in fraud of creditors.
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Appeal from Prairie Chancery Court, Northern District, John M. Elliott, Chancellor; STATEMENT BY THE COURT. Appellant Morgan Company brought suit on June 30, 1914, against .appellees upon a note of the Buena Vista Veneer Co., dated January 5, 1914, and caused an attachment to be issued against certain property transferred by 'said company to Charles W. Elmes, which transfers were alleged to be fraudulent and prayed to be set aside as made in fraud of creditors. On September 29, 1915, the S. II. Smith Co., appellant, brought suit against the same parties for $650.00 due on account by the…
1Opinion of the Court
Kirby, J.,
(after stating the facts). The undisputed testimony shows that the Veneer Company was indebted for money advanced to it by the Morgan Company at the time of the first transfers; that a statement of its business made to Elmes showed such indebtedness, which statement did not show an indebtedness of the company to him-for $20,500 later claimed to be the company’s debt for -money furnished it, the renewal note being executed by Herman Bomunde-r, individually instead of for the company. The company was insolvent -at, -the time of the execution of the first and all subsequent agreements…
2Cases cited2 opinions
- Dozier v. Arkadelphia Cotton MillsSupreme Court of Arkansas · 1899
- Davis v. JonesSupreme Court of Arkansas · 1899