Johnson v. Anderson
Supreme Court of Arkansas
APPEAL from Drew Circuit Court in Chancery. Hon. A. C. Jones, Special Judge. A mortgage may be given in a specific sum to secure future advances, and future balances on settlements. Bank, etc., v. Finch, 3 Barb. Ch. Rpts., 303, 297; Shirras v. Caig, 7 Cranch. U. S., 50; McK. v. Babcock, 26 N. Y., 378; Langston v. McKinney, 16 Johns., 105; Truscott v.King, 2Seld., 157; 1 Hill. Mort., p. 206, secs. 58 et seq., and parol testimony is admissible to show the intent.
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APPEAL from Drew Circuit Court in Chancery. Hon. A. C. Jones, Special Judge. A mortgage may be given in a specific sum to secure future advances, and future balances on settlements. Bank, etc., v. Finch, 3 Barb. Ch. Rpts., 303, 297; Shirras v. Caig, 7 Cranch. U. S., 50; McK. v. Babcock, 26 N. Y., 378; Langston v. McKinney, 16 Johns., 105; Truscott v.King, 2Seld., 157; 1 Hill. Mort., p. 206, secs. 58 et seq., and parol testimony is admissible to show the intent. Cases supra, and 2 Wash. R. Property, 144; Hurd v. Robinson, 11 Ohio St., 232; 2 Hill. Mort., p. 303; sec. 18; Johnson v. Clark, 5…
1Opinion of the Court
Walker, J.:
Anderson, as the assignee of Samuel F. Arnett, filed his bill of complaint in the Drew Circuit Court, to enjoin the sale of certain real estate, before then mortgaged by Arnett to Johnson & Goodrich, to secure the payment of certain notes which he alleges have been paid.
Upon the state of case made by the pleadings and proofs, the court below perpetually enjoined the sale of the lands so mortgaged, from which defendants appealed.
It is alleged in the bill, that, on the 27th April, 1871, Arnett executed to Johnson & Goodrich four notes for $5,000 each, payable, respectively, on the…
2Cases cited3 opinions
- Harrison & Robinson v. JohnstonSupreme Court of Alabama · 1855
- Law's ex'ors v. SutherlandSupreme Court of Virginia · 1849
- Forstall & Co. v. BlanchardSupreme Court of Louisiana · 1838
3Cited by6 opinions
- Briggs v. SteeleSupreme Court of Arkansas · 1909
- Hester v. GairdnerSupreme Court of Georgia · 1907
- McWhorter v. TysonSupreme Court of Alabama · 1919
- Bailey v. RockafellowSupreme Court of Arkansas · 1893
- Goldsmith v. LewineSupreme Court of Arkansas · 1902
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