Dodd v. Axle-Nut Sign Co.
Supreme Court of Arkansas
Appeal from Marion Chancery Court; T. H. Humphreys, Chancellor; STATEMENT BY THE COURT. Appellee, -which is a corporation organized and doing business under the laws of the State of Kentucky, instituted this action in the chancery court against appellant to recover an amount alleged to be due on a promissory note and to foreclose a mortgage on real estate situated in Marion County, Arkansas, given to secure it.
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Appeal from Marion Chancery Court; T. H. Humphreys, Chancellor; STATEMENT BY THE COURT. Appellee, -which is a corporation organized and doing business under the laws of the State of Kentucky, instituted this action in the chancery court against appellant to recover an amount alleged to be due on a promissory note and to foreclose a mortgage on real estate situated in Marion County, Arkansas, given to secure it. Appellant defended the action on the ground of a failure of the consideration, and also on the ground that the note sued on was given for patent right territory and was not executed in…
1Opinion of the Court
Hart, J.,
(after stating the facts). It is first insisted by counsel for appellant that there was a failure of consideration, and for that reason appellee is not entitled to recover on the note, and to have a foreclosure of the mortgage given to secure it. He bases his contention on the fact that Ditto agreed to lend him $500, and only let him have $200, and that he also agreed to organize a corporation for the purpose of selling the patented device in the territory described in the contract and that he failed to do so. The record shows that appellant knew that his note had been transferred t©…
2Cases cited7 opinions
- King v. DoaneSupreme Court of the United States · 1891
- Stewart v. SimonSupreme Court of Arkansas · 1914
- Grider v. DriverSupreme Court of Arkansas · 1885
- Haglin v. FriedmanSupreme Court of Arkansas · 1915
- Woods v. CarlSupreme Court of Arkansas · 1905
2 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Hinton v. BrownSupreme Court of Arkansas · 1927
- J. R. Watkins Medical Co. v. JohnsonSupreme Court of Arkansas · 1917
- Smith v. BrokawSupreme Court of Arkansas · 1927
- Farmers & Merchants Bank v. PoeCourt of Appeals of Arkansas · 1986
- Miller v. AMERICAN INSURANCE COMPANY OF NEWARK, NJDistrict Court, W.D. Arkansas · 1954
3 more not listed; retrieve them via the Exa API.