EXCHANGE BANK & TRUST COMPANY v. GIBBONS

No. 5-1407.

307 S.W.2d 877 (1957)

The EXCHANGE BANK & TRUST COMPANY, Appellant, v. J. M. GIBBONS et al., Appellees.

Supreme Court of Arkansas.

December 23, 1957.


Attorney(s) appearing for the Case

J. G. Ragsdale and B. L. Allen, El Dorado, for appellant.

Melvin E. Mayfield and Surrey E. Gilliam, El Dorado, for appellee.


GEORGE ROSE SMITH, Justice.

The only question presented by this appeal is that of priority between a mortgage executed by J. M. Gibbons to the appellee McHenry and a later mortgage executed by Gibbons to the appellant bank. The chancellor held that the earlier mortgage had not lost its original priority. The decree awarded McHenry a first lien on the land and directed the foreclosure of both mortgages.

On March 25, 1947, Gibbons and his wife executed a mortgage...

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