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RUSHTON v. FIRST NATIONAL BANK OF MAGNOLIA

No. 5-4417.

426 S.W.2d 378 (1968)

244 Ark. 503

Joe F. RUSHTON, M.D., Appellant, v. FIRST NATIONAL BANK OF MAGNOLIA, Appellee.

Supreme Court of Arkansas.

Rehearing Denied May 6, 1968.

Attorney(s) appearing for the Case

Harry B. Colay, and Chambers & Chambers, Magnolia, and Warren & Bullion, Little Rock, for appellant.

Keith, Clegg & Eckert, Magnolia, and Gaughan & Laney, Camden, for appellee.

BYRD, Justice.

This appeal by Joe F. Rushton, M. D., is one of a number of lawsuits arising from the dismissal of W. C. Blewster as president of appellee First National Bank of Magnolia. Dr. Rushton contends that in endorsing certain notes for Numark Manufacturing Company he was acting as trustee for the benefit of the bank. The trial court found against Dr. Rushton because (1) the acts, if they had occurred, would be ultra vires and not binding on the bank; (2) Dr...

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