First National Bank v. Waddell
Supreme Court of Arkansas
Appeal from Phillips Chancery Court. STATEMENT BY THE COURT. Appellee, B. B. Waddell, on April 25, 1898, filed a complaint at law against appellants, the First National Bank of Helena, Ark., Lycurgus Lucy and Jacob Trieber, to cancel his 'mortgage executed to Lucy on October 11, 1890, conveying the real estate in controversy situated in the city of Helena, and the foreclosure sale thereunder, and the deeds executed subsequently, through which appellant First National Bank…
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Appeal from Phillips Chancery Court. STATEMENT BY THE COURT. Appellee, B. B. Waddell, on April 25, 1898, filed a complaint at law against appellants, the First National Bank of Helena, Ark., Lycurgus Lucy and Jacob Trieber, to cancel his 'mortgage executed to Lucy on October 11, 1890, conveying the real estate in controversy situated in the city of Helena, and the foreclosure sale thereunder, and the deeds executed subsequently, through which appellant First National Bank claims title. On motion of defendants, the cause was transferred to equity. The conditions of the mortgage are as follows:…
1Opinion of the Court
McCulloch, J.,
(after stating the facts.) 1. It is contended, on behalf of appellee, that the contract created only a limited guaranty for advances made by the bank to W. B. Lewis & Company to the extent of $3,000, and was exhausted by the first advancement of that sum and payment thereof; or, if it be held that it was a guaranty for the amount of balance due on April 1, 1891, to the extent of $3,000, a payment of that sum after April 1, 1901, discharged the guarantied debt, even though a balance in excess of the $3,000 was left unpaid by the principal debtor. On the other hand, appellants…
2Cases cited16 opinions
- Douglass and Others v. Reynolds and OthersSupreme Court of the United States · 1833
- Fellows v. PrentissCourt for the Trial of Impeachments and Correction of Errors · 1846
- Leonhard v. FloodSupreme Court of Arkansas · 1900
- White's Bank of Buffalo v. MylesNew York Court of Appeals · 1878
- Bank of Newport v. CookSupreme Court of Arkansas · 1895
11 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Briggs v. SteeleSupreme Court of Arkansas · 1909
- Citizens' Bank v. MurphySupreme Court of Arkansas · 1907
- Finagin v. Arkansas Development Finance AuthoritySupreme Court of Arkansas · 2003
- Brittian, Administrator v. McKimSupreme Court of Arkansas · 1942
- Carney v. MatthewsonSupreme Court of Arkansas · 1908
20 more not listed; retrieve them via the Exa API.