Westbay v. Terry
Supreme Court of Arkansas
Appeal from Monroe Circuit Court; George M. Chapline, Judge; STATEMENT BY THE COURT. This is a suit by appellee against appellant on the following note: "$100.00. Brinkeey, Ark., June 3d, 1902. . “On or before January first after date I promise to pay to •the order of P. E. Terry the sum of one hundred dollars, value received. [Signed] “John A. Westbay, “John Gazzoea."
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Appeal from Monroe Circuit Court; George M. Chapline, Judge; STATEMENT BY THE COURT. This is a suit by appellee against appellant on the following note: "$100.00. Brinkeey, Ark., June 3d, 1902. . “On or before January first after date I promise to pay to •the order of P. E. Terry the sum of one hundred dollars, value received. [Signed] “John A. Westbay, “John Gazzoea." The defense is (that the note was given as a penalty upon appellant if he failed to comply with the contract in evidence as follows: “This agreement made and entered into this 3d day of June, 1902, by and between P. E. Terry…
1Opinion of the CourtWood, J.
(after stating -the facts.) The only issue in the case is whether or not the amount specified in the contract for which the note was executed was intended by the parties to the contract as a penalty or as liquidated damages. In the early case of Williams v. Green, 14 Ark. 315, this court treated the subject under -consideration most exhaustively. We could not hope to elucidate the question more thoroughly than has been done by Chief Justice Watkins in that case. Among, other things he said: “Where the damages are at -all uncertain o.r unliquidated, the parties ought to be allowed to…
2Cases cited3 opinions
- Williams v. GreenSupreme Court of Arkansas · 1854
- Stillwell v. Paepcke-Leicht Lumber Co.Supreme Court of Arkansas · 1904
- Lincoln v. Little Rock Granite Co.Supreme Court of Arkansas · 1892
3Cited by3 opinions
- Smith v. DixonSupreme Court of Arkansas · 1965
- Nevada County Bank v. SullivanSupreme Court of Arkansas · 1916
- Welbourn v. KeeSupreme Court of Arkansas · 1918