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JACOBS v. CITY NATIONAL BANK OF FORT SMITH

No. 5-1518.

313 S.W.2d 789 (1958)

J. L. JACOBS et al., Appellants, v. The CITY NATIONAL BANK OF FORT SMITH, Arkansas, Appellee.

Supreme Court of Arkansas.

Rehearing Denied June 23, 1958.

Attorney(s) appearing for the Case

Hardin, Barton, Hardin & Garner, Ft. Smith, for appellant.

Harper, Harper & Young, Ft. Smith, for appellee.

HARRIS, Chief Justice.

J. L. Jacobs operated an automobile motor company in Fort Smith under the name of Jacobs Motor Company. On September 24, 1955, Jacobs and wife, Mary Virginia, executed their promissory note to appellee in the sum of $3,000, due 90 days from date, and bearing interest at the rate of 6% per annum until paid, representing borrowed money, which was deposited by Jacobs in his bank account with appellee for use in his business. To secure the payment...

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