Schmidt v. Griffith
Supreme Court of Arkansas
Appeal from Franklin Circuit, Ozark District; James Cochran, Judge; If the option and lease contracts have any probative force it is to explain the intention of the parties of the list of debts assumed and what they want in that list contract between appellants and the Alix Coal Company.
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Appeal from Franklin Circuit, Ozark District; James Cochran, Judge; If the option and lease contracts have any probative force it is to explain the intention of the parties of the list of debts assumed and what they want in that list contract between appellants and the Alix Coal Company. These, taken with the evidence of Coffer and R. A. Schmidt, show that appellants never intended to pay or assume appellee’s debt, but the only agreement entered into, or intended, was to protect the property against liens or claims which mlight become liens by suit or otherwise. The Alix Coal Company did not…
1Opinion of the CourtMcCulloch, C. J.
The facts of the case are these: appellee is a creditor of the Sehmidt-Blakely Coal Company, a domestic corporation engaged in coal mining, the debt being evidenced by certain promissory notes executed to cover a pre-existing debt. Appellants were president and secretary, respectively, and the owners of practically all of the stock of said corporation, and in January, 1919, they entered into a written contract whereby they sold and delivered all of the property of the Sehmidt-Blakely Coal Company to certain individuals, who organized another corporation, called the Alix Coal Company, for the…
2Cases cited4 opinions
- Thomas Manufacturing Co. v. PratherSupreme Court of Arkansas · 1898
- Spear Mining Co. v. ShinnSupreme Court of Arkansas · 1910
- Dickinson v. McCoppinSupreme Court of Arkansas · 1915
- Hecht & Imboden v. CaughronSupreme Court of Arkansas · 1885
3Cited by6 opinions
- Carolus v. Arkansas Light & Power Co.Supreme Court of Arkansas · 1924
- Lesser-Goldman Cotton Co. v. FletcherSupreme Court of Arkansas · 1922
- Southern Surety Company v. PhillipsSupreme Court of Arkansas · 1930
- Gravelle Const. Co. v. Board of Com'rsCourt of Appeals for the Eighth Circuit · 1936
- Commodity Credit Corp. v. HenwoodCourt of Appeals for the Eighth Circuit · 1942
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